Belfast-based sports technology company
TeamFeePay has completed a £9 million equity funding round to support expansion
into new markets and planned recruitment. The round was led by investments from
YFM Equity Partners and the Investment Fund for Northern Ireland (IFNI),
managed by Clarendon Fund Managers. Additional participation came from
Techstart and a group of private investors.
TeamFeePay was founded in 2021 by Liam
McStravick, drawing on more than two decades of experience in grassroots
coaching at clubs including Cliftonville, Linfield, and Ballyclare Comrades.
The company was established in response to the administrative demands faced by
coaches, such as managing player fees, which can reduce time available for
coaching.
The company has developed a software
platform that supports grassroots football clubs and coaches with fixture
planning, training sessions, event management, attendance tracking, and
administrative tasks, helping teams stay organised while allowing coaches to
focus on on-field activities.
Commenting on the investment, Liam McStravick, CEO and co-founder of TeamFeePay, said the funding will support the
company’s plans to modernise the operational side of grassroots football across
the UK, Ireland, and Europe by reducing administrative workloads and helping
clubs operate more sustainably.
Over the next two years, we will be
increasing our presence on the ground, investing in new technology, and
continuing to improve the service and club development support provided by our
expert team,
McStravick added.
TeamFeePay plans to use the new investment to
support growth across the UK, expand further into Europe, and advance product
development. The strategy also includes the creation of up to 75 new roles over
the next two years across the UK and Europe, spanning sales, marketing, and
product development functions.