ClearBank Founder Makes a Comeback with Innovative Platform Sporta
Andrew Smith, the visionary behind ClearBank, has embarked on an exciting new journey with the launch of Sporta. This innovative venture aims to redefine banking for sports enthusiasts, clubs, and communities, with a promising pre-money valuation of £35 million as it seeks funding through Crowdcube.
Transforming Sports Banking
Sporta is designed to cater to an impressive audience of 43 million active sports participants in the UK, tapping into a substantial £80 billion potential for financial services. Their goal is not just to provide traditional banking services, but to create a specialized platform for individuals deeply engaged in sports.
In his role as CEO, Smith leverages his experience from founding the UK’s first new clearing bank in over two centuries. Alongside him are co-founders Paul Fraser, bringing expertise in operations, and Vicky Gosling OBE, whose background spans global sports administration. Together, they aim to revolutionize how athletes and fans interact with their finances.
Open Investment Opportunities
Currently, the funding initiative through Crowdcube places Sporta at a pre-money valuation of £35 million, with an ambitious goal of raising an additional £5 million in seed capital. Lead investor Lazaroo-Hood, a family office, has boosted their initial investment, committing an extra £5 million as part of a Series A funding round.
This crowdfunding initiative invites all qualifying retail investors, specifically emphasizing inclusion for grassroots sports participants and fans, allowing them to be part of this groundbreaking venture.
Pioneering Technology
While details on technology partners remain under wraps, Smith assures that AI is at the heart of Sporta’s operations. He states, “Our bank is essentially all AI.” This means every aspect of the business—from workflows and processes to support functions—will be powered by their proprietary AI.
Smith notes they are collaborating with leading market providers for core banking functionalities while maintaining a unique tech stack tailored to their vision. Development work is already underway, demonstrating a strong commitment to innovation.
A Personal Touch to Banking
At the core of Sporta’s philosophy is the aspiration to enable customers to design their own banking experience. Their hyper-personalized agentic AI tool, known as SPORTA PT, simplifies the process, allowing users to customize financial products that perfectly align with their needs and habits.
Looking Ahead
The ongoing seed round on Crowdcube runs until November 26th and is part of a series of funding efforts aimed at enhancing Sporta’s technological capabilities and preparing for a UK banking license application. They are targeting Authorization with Restrictions status by Q3 2026.
Embarking on this exhilarating journey, Sporta not only seeks to fill a gap in the market but aspires to empower every sports participant with personalized banking solutions.
If you share a passion for sports and innovation, now is your chance to be part of something transformative. Consider joining the Sporta community and take a stake in the future of sports banking!
