LatBAN syndicate backs Tournated: €750k raise, 277% annualized growth

Latvian sport-tech startup Tournated has closed a €750,000 strategic round to scale its white-label platform that lets federations, clubs, and event organizers launch their own end-to-end sports management ecosystems (web & mobile). Organizations keep control of brand and data, automate circuits/leagues/tournaments, streamline licensing, payments, and governance, and unlock new monetization.

The round brings on Scandiweb, Shijiazhuang Chaofeng Sports, and an international padel organization as strategic partners. Funding will drive expansion across the Americas and Asia, strengthen infrastructure with Scandiweb’s tech advisory, and deepen leadership in racket sports while accelerating growth in other disciplines.

Backed by a LatBAN (Latvian Business Angels Network) syndicate of 6 angels, Tournated’s valuation has progressed from €3.3M to €7M in 7 months—a 2.12× uplift (+112% implied book value, ~277% annualized).

Since launch in September 2024, Tournated is already used in 50+ countries by 300+ sports organizations and 50k+ athletes.
Founder & CEO Ņikita Ribakovs: “We’re building the global standard for sports management—on organizations’ own terms.”

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For details, contact ASP Asset Management or Emīls Kragišs (LatBAN).