PlayUp seeks $7.6M capital for fantasy sport start-up expansion

An Australian businessman is eyeing to bring his advertisement-paid version of daily fantasy sports beyond the land down under.

To make it possible, Business Insider Australia reported that Sydney entrepreneur Daniel Simic will need to raise AUD10 million ($7.62 million) as capital.

He said daily fantasy has caught on with wider appeal than traditional fantasy games because there was no season-long commitment.

“We’ve already signed up over 100,000 people to play, which is well beyond our initial expectations. We’re also seeing strong retention rates, so fans are coming back for more competition and prizes,” he said. “Millions of new daily fantasy sports players have come into the market in just the past few years alone. By making it more accessible and offering the opportunity to win real prizes, without any entry fees, we hope to take fantasy sports to the next level in Australia and around the world.”

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