Saudi Arabia’s Grintafy secures Chiliz investment for web3 boost

Grintafy and Chiliz’s partnership will bridge European soccer teams with Saudi talent

Saudi Arabian sportstech company, Grintafy, has recently secured a significant investment from Chiliz, a prominent player in the SportFi sector, aiming to accelerate its transition into Web3.

Grintafy, established in 2019 by Majdi Allulu, operates as a soccer talent discovery platform, serving leading soccer organizations across the Middle East and Europe.

The exact amount of investment remains undisclosed, but this partnership marks a significant milestone for Grintafy. Previously, in 2022, the company had secured a $2.1 million bridge round from Aramco’s venture capital arm, Wa’ed, along with other investors.

With nearly 2 million users, Grintafy stands as the largest talent discovery platform in the Middle East. The company has also forged partnerships with prominent soccer organizations in the Middle East and top-tier leagues such as La Liga and the Premier League, along with elite academies globally.

The collaboration with Chiliz brings strategic advantages to Grintafy, leveraging Chiliz's technological infrastructure, ecosystem, and expertise. This move is aimed at accelerating Grintafy's web3 transition, utilizing blockchain for various applications such as player ratings, rankings, and performance certifications.

Daniel Maglietta, the soccer commercial director for Chiliz, is set to play a crucial role as a key advisor to Grintafy in its efforts for international expansion. This strategic alignment opens up new avenues for young Saudi athletes, contributing to the evolution of soccer in the region and aligning with the goals of Vision 2030's tech-driven transformation.

For Chiliz, this investment represents its first venture into the burgeoning Saudi soccer scene, demonstrating its commitment to the growth and internationalization of Saudi soccer.

The partnership aims to bridge European soccer teams with Saudi talent while offering reciprocal benefits for Chiliz's extensive network of sporting partners, granting them access to Grintafy's expertise and network within Saudi Arabia.

Majdi Allulu, founder and CEO of Grintafy, expressed excitement about the partnership, stating:

“In searching for our next investor/partner, we tried to be strategic, in that Grintafy seeks a company that has their vision aligned with ours. Chiliz is not just a leader in the sports web3 space, but it also shares our vision to change the game in the sports tech space and our commitment to support soccer's growth in the Middle East.”

Alexandre Dreyfus, CEO of Chiliz and Socios.com, emphasized the strategic value of this investment, highlighting the mutual benefit for both Grintafy and the broader Chiliz ecosystem.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

Similar News