- Toronto-based sports team funding app FlipGive announced it raised CAD$5 million in Series A financing led by Framework Venture Partners.
FlipGive — the Toronto-based sports team funding app — announced it raised CAD$5 million in a Series A financing. This round of funding was led by software venture capital firm Framework Venture Partners. iGan Partners and FJ Labs also joined the round.
FlipGive essentially accelerates how youth sports, member organizations, and clubs fundraise. This round of funding will be used for talent growth, the development of enhanced product features, and the addition of brand partners for enriching the value that members receive from the platform. And the funding will also support increased marketing and provide resources for member acquisition.
“We have only scratched the surface of what is possible in the world of team-sport and club fundraising,” said FlipGive co-founder and CEO Mark Bachman. “With this investment, we will be able to provide our service to a larger, more diverse group of members and give them access to the tools they need to raise funds quicker and easier than ever before.”
FlipGive is known for transforming the fundraising space by partnering with hundreds of national brands to provide cashback from purchases made through its platform. Some of the programs include Apple, Under Armour, Walmart, Home Depot, Nike, and Buffalo Wild Wings.
“Framework is incredibly excited about working with Mark, Nicholas, and the rest of the FlipGive team to tackle the tremendous friction associated with fundraising,” added Peter Misek — a Partner at Framework Venture Partners. “We deeply believe in FlipGive’s ability to service a market in dire need of intuitive, user-driven tools that can help families and other groups of people reduce the financial burden related to sporting and other organized activities.”
Rather than relying on traditional bottle drives or awkward candy bar and raffle ticket shakedown, over 35,000 teams and clubs have tapped into FlipGive to raise $20 million through everyday purchases at their favorite retailers and restaurants.
“We are very excited to see FlipGive enter this new era,” explained Sam Ifergan — the founder and managing partner at iGan. “Having been invested in the company from the beginning, it is very fulfilling to see the vision become a reality. We know FlipGive will be an important enabler of youth sports as well as an incredible marketplace.”
FlipGive’s Series A round is Framework’s first investment from a $150 million fund that will focus on supporting rapidly scaling tech companies in Canada and abroad.
“FJ Labs invests in high-friction markets that can be improved for both sides by a central platform,” noted Fabrice Grinda —a co-founding partner at FJ Labs. “FlipGive, lead by stellar CEO Mark and team, is well on its way to transforming the overlooked market of fundraising for team sports. The proof is in the numbers – the growth is phenomenal and we’re thrilled to be a part of the journey!”
