Digital soccer collectibles platform Sorare is expected to announce that it will receive $532 million in funding, according to a Business Insider report Wednesday.

  • The Paris-based company’s valuation could exceed $3.8 billion, the article said, based on comments from three unnamed sources. The amount would represent the largest capital raise in the history of France's technology sector, according to the story.
  • Japanese investment firm SoftBank is prepared to lead the funding round and Atomico, a U.K.-based venture firm, will also take part.
  • Sorare raised $50 million in Series A funding round in February that was led by venture capital firm Benchmark and that included investments from Reddit co-founder Alexis Ohanian, former soccer stars Rio Ferdinand and Oliver Bierhoff, and current standouts Gerard Pique and Antoine Griezmann.
  • A number of Europe’s most powerful club teams, including Bayern Munich, Juventus, Real Madrid and Liverpool have launched non-fungible tokens (NFTs) through the platform.
  • Asked by CoinDesk Wednesday to confirm the report, Sorare said that it did not have “anything to announce.”
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