League11, an online platform offering fantasy gaming for cricket, basketball and football, has raised its maiden funding round from KapTable and AngelBay in the form of a venture debt Transaction.
In 24 months, the platform has amassed over 2.0 lakh customers mainly in tier two and three cities of Northern and Central India and has disbursed in excess of Rs 90 crores in cash winnings to its users since inception. League11 offers industry leading commission rates of three per cent in the gaming space, driven by a fully home grown technology stack developed by a talented engineering team. Full ownership of the technology gives League11 the flexibility to be nimble and to be able to tweak the product with the needs and demands of the users.
League11 CEO and founder Mayank Singh stated, “We are ecstatic that KapTable and AngelBay have placed their faith in our young team. We have been bootstrapped until now and we plan to use these funds to continue to enthrall our users and introduce our Poker product, Justice Poker in this quarter while also expanding our team.”
“Shubham Bansal, the co-founder of League11 and Mayank have been avid gamers and full time coders and have demonstrated a single minded vision in developing code and nurturing the young engineers in their team. In League11, we found a team that has developed a world class product that is significantly ahead of competition. The singular focus on the mission along with the talent of the team made this investment a no-brainer for us and AngelBay,” said KapTable co-founder Arjun Gopinath.