League11.in raises venture debt financing from KapTable, AngelBay

Fanmade11 Fantasy Sports owned League11.in on Tuesday announced the news of its maiden funding round with participation from KapTable and AngelBay in the form of a venture debt transaction.

League11, in 24 months, has acquired over 2 lakh customers mainly in tier 2 & 3 cities of northern and central India and has disbursed in excess of Rs 90 crore in cash winnings to its users since inception.

Mayank Singh, CEO & Founder of League11 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 Arjun Gopinath, Co-founder of KapTable.

Founded by in 2019 by Shubham Bansal and Mayank Singh, League11 has grown to 6 employees and is expecting to hit a Rs 3 crore topline in FY22 (up 35% yoy) and aims to grow 12x over the next 3 years.