Monaco headquartered startup IQONIQ secures €100m for global expansion

Monaco headquartered startup IQONIQ secures €100m for global expansion

Published: 29-07-2020 12:21:00 | By: Pie Kamau | hits: 94 | Tags:

IQONIQ, a new fan engagement platform exclusively targeting the world of sports and entertainment, announced it has entered into a €100 million capital funding agreement with the Luxembourg based investment corporation Lux Media Investments to secure the company’s continuous development and global expansion.

News of the investment comes with IQONIQ, headquartered in Monaco, having grown considerably over the past 6 months, despite the impact of COVID-19. During this period, the platform has added a host of new high-profile employees and Advisory Board members, as well as formalising partnerships with rights-holders such as Euroleague Basketball, Olympique de Marseille, AS Monaco, North Carolina FC and the Drone Champions League.

Lux Media Investments a Luxembourg based private investment company is headed by a group of investment bankers, media entrepreneurs, pioneers and industry leaders, former sports professionals, which includes former executives of Time Warner, Walt Disney, Sony, amongst others.

With modern social media platforms not specifically designed for fans, IQONIQ provides its users with an all-in-one solution for their needs, providing aggregated content from all other platforms, as well as unique features including in-app games, special star interactions, loyalty programmes, merchandising and ticketing discounts, and the option to support social responsibility initiatives – all leading to more personal, more rewarding and more purposeful fan experiences.

The funding marks a new chapter in the platform’s growth, with IQONIQ currently in advanced negotiations with more than 175 rightsholders from the world of sports and entertainment, including major clubs from the big five European football divisions, as well as world-leading clubs and leagues in baseball, cricket, rugby and motorsport. The investment will be enabling IQONIQ to focus on global growth, activating new partnerships and fan experiences for fans across the world.

Kazim Atilla, IQONIQ CEO said: “We are very pleased to have secured a financial partner with exceptional experience and know-how in the media industry for IQONIQ. The challenges that have come this year with the pandemic have in many ways reinforced and supported our vision to bring fans closer to their stars, no matter where they are in the world. With this new investment, we will be able to continue our growth alongside new partners and accelerate our plans to revolutionise the world of fan engagement.”

Piet Saarloos, President of the Lux Capital Corporation, added: “From our first conversations with IQONIQ’s leadership team in June 2019, it became clear that IQONIQ will become a real gamechanger in fan engagement, presenting unique opportunities for the sports and entertainment industries. With the experience of our Lux Media Investments team, we see great synergies between our expertise and theirs, and we look forward to helping IQONIQ take the next steps on this incredibly exciting journey.”

The IQONIQ platform is due to launch in September 2020.

iqoniq.com

www.luxmediainvestments.com