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FLIPGIVE Raises $5M Series A To Help Reinvent How Youth Sports Teams Fundraise

Digital fundraising platform FlipGive has raised $5 million in a Series A to help accelerate its mission of changing the way North American youth sports teams raise money.

“We have only scratched the surface of what is possible in the world of team-sport and club fundraising.”

FlipGive offers an online platform that connects merchants to consumers through community fundraisers. Teams can raise money by receiving cash back through shopping at partnered online stores or certain in-store locations. The startup touts itself as having revolutionized the fundraising space for youth sports, member organizations, and clubs raising money.

The Series A was led by Toronto-based Framework Ventures Partners, the first investment of its new $100 million fund announced earlier this year. The round also saw participation from New York-based venture firm FJ Labs as well as iGan Partners. The capital will help FlipGive hire talent, develop enhanced product features, and bring on new brand partners, as well as support marketing and “member acquisition.”

“We have only scratched the surface of what is possible in the world of team-sport and club fundraising,” said Mark Bachman, FlipGive co-founder and CEO, a father of three, who founded the company alongside Nicholas Lee, after experiencing the need for a more efficient way to fundraise for his kid’s various sports teams.

Bachman told BetaKit that on top of using the funding to build out its platform, FlipGive also plans to expand into new sports verticals including volleyball, gymnastics, and swimming, as well as school teams and trips; to date, the platform had been focused on baseball, soccer, and hockey teams.

Founded in 2008 FlipGive didn’t officially launch its current platform until 2016. The platform now enables its members to shop for groceries, gas, and clothing from a number of major retailers including Starbucks, Amazon, Walmart, Apple, Nike, and Hotels.com. Users are also able to plan team events and accept donations. In 2017, FipGive announced that eight-time NBA All-StarDikembe Mutombo joined the company as a major shareholder and global ambassador. Earlier this year, the startup announced a partnership with TeamSnap, a Colorado-based sports team management platform. At the time FlipGive indicated that, since its launch, teams and groups have raised over $20 million through its platform.

FlipGive co-founders Mark Bachman (CEO) and Nicholas Lee (Chief Technology Officer). Image courtesy FlipGive

“Framework is incredibly excited about working with Mark [Bachman], Nicholas [Lee, co-foudner], and the rest of the FlipGive team to tackle the tremendous friction associated with fundraising,” said Peter Misek, partner at Framework. “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.”

Return investor iGan, which is typically focused on investing in health tech companies, has been investing in the fundraiser startup since 2013. Founder and managing partner at iGan, Sam Ifergan, called FlipGive “an important enabler of youth sports as well as an incredible marketplace.”

“We are very excited to see FlipGive enter this new era. Having been invested in the company from the beginning, it is very fulfilling to see the vision become a reality,” he stated.

Platforms like FlipGive are becoming increasingly important for Canadian youth sports teams, with reports that parents are spending more than $1,000 per year on extracurriculars for their children. According to a study conducted by Global News last year, many parents expressed that they had gone into debt in order to pay for their kid’s activities.

“This is exactly why we built FlipGive,” Bachman told BetaKit. “Using the power of spending of families so they can earn cash back for everything they buy for their team. [FlipGive is] using that buying power to fund teams.”

With its cash back model, money raised through FlipGive can either go directly towards teams, or those teams have the option to reimburse parents directly.

“Families are forced to sacrifice so much so that their kids can have access to a sport they love,” said Bachman, earlier this year, noting that FlipGive has a goal of raising $100 million for youth sports teams over the next five years.

Photo by Jeffrey F Lin via Unsplash

URL: https://betakit.com/flipgive-raises-5-million-series-a-to-help-reinvent-how-youth-sports-teams-fundraise/

New Client Intake

Athletic Venture Advisors will be accepting new startup and small business clients for consulting on many services including seeking investors and capital. We focus on sports, sporting goods, sports technology, fitness, nutrition, healthcare and injury prevention companies who are making a difference in their field.

AVA will be closing on some major projects very soon, as well as bringing on new advisors to expand our reach.

Because of this we will be bringing on new Startup and Small Business Clients who are preparing and seeking Funding or looking for assistance in Business Development and Strategic Partnerships. Have an interesting business in Sports, Sports-Tech, Healthcare, Fitness and Nutrition or related channels? Submit your business profile here:

Athletic Venture Advisors – Portfolio Partners

Athletic Venture Advisors is growing and adding new Investors to our portfolio.

Toronto, Ontario, Canada – April 1, 2019: Athletic Venture Advisors has seen a significant growth in the interest of Funds seeking our assistance, guidance and expertise in the fields of Sports, Sport Technology, Health & Wellness, Consumer Electronics, Fitness and more. AVA are proud to work with some of the biggest players in these spaces, and are seeking to add to our network.

“We are pleasantly surprised at the willingness, openness and collaboration that happens in this industry. I think it’s exciting for everyone involved, and I believe that everyone we have met is here for the same reason; We love seeing new ideas come to life”

Marc Wilson, Founder of Athletic Venture Advisors

As the company develops new services, partnerships and clients there is a need for partners who operate at various levels of investment in the industry as well as advisors to grow the network of funds and opportunities.

If you are interested in joining the Athletic Venture Advisors network of investors, partners and clients please fill out the following form so that services and opportunities are a valuable fit for your business.

About Athletic Venture Advisors:

Founded in 2018, AVA was created by entrepreneurs who navigated the sports industry, that wanted to make sure that opportunities that further the growth of the industry are seen and supported. AVA boasts a network of Entrepreneurs, Advisors, Funds, Investors, Athletes and Industry Experts who have the resources and networks so cultivate investment and strategic partnership opportunities in sports and sports technology.

For more information:
Marc Wilson

Athletic-Minded Businesses seek like-minded investors.

Entrepreneurial-Athletes seek like-minded Businesses.

Fund Directors seek opportunities in this lucrative market.