SPORTA secures £5 million for sports-focused banking push

By Olivia Hart

SPORTA secured a £5 million follow-on investment from Lazaroo-Hood Group to develop banking and digital infrastructure for the United Kingdom sports economy.

The family office will become SPORTA's largest shareholder, alongside the company's founders, and will join the SPORTA Group board. SPORTA said the financing strengthens its capital position as it pursues authorization for a proposed sports-focused bank.

Lazaroo-Hood led SPORTA's seed round in 2025 and will remain a long-term financial and strategic partner. SPORTA's announcement did not disclose its valuation, the size of Lazaroo-Hood's stake, revenue or a regulatory timetable.

What is SPORTA trying to build?

SPORTA, a United Kingdom-based financial technology company, aims to become the country's first fully authorized bank dedicated to the sports economy. That goal depends on regulatory approval; the company is not yet an authorized bank. Its platform would serve professional and grassroots sports organizations.

Intended customers include sports clubs, athletes, supporters, families, volunteers and other participants in the sports economy. SPORTA's strategy would provide financial products and digital services tailored to those groups.

Andrew Smith, Founder and CEO of SPORTA, said:

“Sport has always had its own economy, its own pressures and its own way of bringing people together. But it has not always had financial infrastructure designed around those realities. This investment shows the confidence in SPORTA’s mission and the seriousness of how we are building the business.

We’re putting the right people, technology, governance and operating foundations in place from the outset because that’s what building a bank properly demands. Lazaroo-Hood Group has been with us from the beginning as a founding lead investor and long-term partner.

Their continued support gives us the platform to keep building SPORTA in the right way, with the ambition of creating the financial home for sport.”

SPORTA said traditional banks do not always address the financial requirements of these groups. It cited seasonal income, event-related cash flows, sponsorship arrangements, operational expenses and access to financing as distinctive industry pressures. The planned platform would offer products and services designed around those operating patterns. The announcement did not specify individual products, fees, customer volumes or a launch schedule.

SPORTA has identified its market; the announcement shows neither a specified product suite nor banking approval.

How will the £5 million be used?

SPORTA said it will use the capital to expand technology infrastructure and strengthen operational capabilities. The money will also fund commercial partnerships and the governance and risk-management systems required for a regulated banking organization.

The company said the financing supports work on management, technology, financial controls and compliance infrastructure. SPORTA considers those components necessary for its proposed banking business. No allocation of the £5 million among licensing, technology, staffing or partnerships was disclosed, so the headline investment does not show how much runway the company has.

Lazaroo-Hood's continued backing gives SPORTA additional capital to strengthen its operating platform and build industry relationships. It also prepares proposed banking services for future customers, the company said. The investor's commitment is financial and strategic, but neither side announced a commercial milestone, authorized capital target or launch date.

The money buys preparation time; it does not mark a bank launch.

Who is leading the expansion?

SPORTA announced six senior appointments alongside the financing:

• David Wishart, Chief Risk Officer.
• Indi Chahal, Chief Information Officer.
• Mark Hodgkisson, Chief Financial Officer.
• Jess Blakey, Chief Commercial and Marketing Officer.
• Fanoula Grekos, Head of Operations.
• Adrian Moreno, Head of Engineering.

Appointments requiring regulatory approval remain subject to the relevant authorization process, SPORTA said. The company did not identify which roles need approval or whether regulators have begun reviewing them.

The appointments cover risk, information technology, finance, commercial and marketing, operations and engineering. SPORTA said the leadership expansion would support the management and control infrastructure required for its proposed bank. The release included no biographies or prior experience, so the announcement itself provides no basis for judging the executives' banking credentials.

The new team covers the core buildout functions, subject to regulatory clearance.

What does the new backing change?

Ross Lazaroo-Hood, Founder and CEO of Lazaroo-Hood Group, said:

“We are pleased to complete this further investment in SPORTA and deepen our role as a long-term partner to the business.

The Lazaroo-Hood Group led SPORTA’s seed round in 2025 because we believed the team had the experience and ambition to build something genuinely new for sport.

Backing our portfolio companies for the long term is central to how our family office works, and SPORTA has the potential to create generational change for sport and the people who support it.”

The family office said the follow-on investment deepens its role and reflects its support for SPORTA's development strategy. Its 2025 seed-round leadership and new position as largest shareholder give it board representation and strategic influence while SPORTA works toward authorization.

SPORTA's stated next stage includes strengthening the operating platform, building industry relationships and preparing proposed banking services for future customers. The company still faces the licensing process and must turn its sports-focused proposition into specified products and paying customers.

Lazaroo-Hood has deepened its funding and influence, while execution remains ahead.

SPORTA's next proof points are regulatory authorization, a spending breakdown and a dated route to customers. Until those arrive, the £5 million marks progress for a proposed bank, not a completed financial institution.