Scout raises new funding to enhance financial tools for athletes and athletic departments, driving innovation in college sports.
NEW YORK, Feb. 4, 2025 /PRNewswire-PRWeb/ -- Scout, a leading innovator in financial literacy, tax, and investment solutions for collegiate athletic conferences, athletic departments, and student-athletes, announced today the successful closing of a new round of venture capital funding. The funding will drive Scout's mission to empower athletes and institutions with data-driven financial tools and cutting-edge fintech infrastructure.
The new capital will support the development of personalized financial tools for athletes and their families, including enhanced tax and investment management solutions. It will also enable Scout to continue innovating fintech platforms tailored to athletic departments, serving as their CFO infrastructure to streamline financial operations, manage compliance, and provide tools that ensure they can adapt seamlessly to the rapidly evolving landscape of college athletics.
Since its launch in 2021, Scout has raised over $6 million to fuel its growth and expansion. Terms of this latest strategic financing were not disclosed.
The funding round saw participation from notable investors, including:
Andy Katz, Founder and past Chairman of The College Sports Company and Managing Partner at VA² & BrknPar Venture Capital Fund.
Adam Breneman, former All-American tight end and media entrepreneur.
Oli Marmol, entrepreneur and Manager of the St. Louis Cardinals.
Jim Briles and Merek Shoob, serial entrepreneurs with multiple successful exits.
Both Katz and Briles will join Scout's Board of Directors, bringing strategic expertise and support to guide the company's aggressive growth plans. Previous investors in Scout include OneTeam Partners, Chris Paul, Reach Capital, Hustle Fund, J4 Ventures, Techstars Sports, and Chingona Ventures, reflecting a broad coalition of support for Scout's vision and potential.
Andy Katz shared: "I believe Scout represents the next generation of fintech superstars. The best companies make technology seamless, engaging, and impactful. Scout has mastered this approach in a nascent market with significant TAM. Michael Haddix Jr. and his team have built a platform that stands out, giving Oli and me confidence to invest both our time and resources to help them achieve continued success."
Adam Breneman highlighted Scout's unique role in the NIL era: "Since the Supreme Court's 2021 NIL decision, countless businesses have entered this space. Scout distinguishes itself by delivering essential financial tools to both student-athletes and athletic departments. Schools and athletes need smart, accessible resources, and Michael Haddix's leadership ensures Scout is at the forefront of this transformation. I'm excited to support their mission and growth."
Leadership Perspective
Michael Haddix, Jr., Founder and CEO of Scout, underscored the company's vision:
"Athletes and athletic departments have unique financial needs and goals. At Scout, we leverage data and technology to meet these needs in ways that are both easy and affordable. This investment is a powerful vote of confidence in our platform, our team, and our ability to reshape financial literacy and infrastructure for athletes around the world."
Scout continues to position itself as a trusted partner for schools, administrators, and athletes, transforming how the collegiate athletics ecosystem navigates financial challenges and opportunities.
For more information, go to www.investwithscout.com or follow Scout on IG @investwithscout
About Scout
Scout is a financial technology leader dedicated to empowering athletes and administrators with the tools, knowledge, and infrastructure needed to succeed financially. From personalized financial wellness apps for athletes to integrated fintech solutions for athletic departments, Scout is driving innovation and excellence in collegiate athletics.
Steve Delsohn
Delsohn Strategies
+1 805-358-3318
Media Contact
Steve Dehlson, Dehlson Strategies, 1 +1 805-358-3318, [email protected]
SOURCE Scout
Share this article