Fishbrain secures $31m funding to accelerate global growth
Fishbrain, described as the world’s most popular fishing app with nearly 12 million registered users, has raised $31m in funding from Swedish and Norwegian investors.
The investment will be used to continue to scale up its user base and solidify its market-leading position as the top platform for sportfishing. The focus will be on expanding growth and outreach in Sweden and Norway. It will also use the financing to strengthen its engineering, product, marketing and sales teams at its HQ and product hub in Stockholm as well as hiring in the US and throughout Europe.
A key focus of Fishbrain’s 2021 and 2022 development will be the growth of its one-of-a-kind marketplace, the fast-growing Fishbrain Shop, which has more than 80,000 products from over 300 of the world’s top brands, including Abu Garcia, PENN, O. Mustad & Son and Favorite Fishing.
“We have already established ourselves as one of the most innovative companies in the fishing industry and now we are in a position to take the leap to become the go-to resource for anglers around the world,” said Johan Attby, Fishbrain CEO and founder.
“Make no mistake, anglers are a massive and passionate audience that few have been able to tap into as we have – in 2020 the market for sportsfishing equipment was estimated at $15.6 billion and is projected to grow rapidly over the next few years, which is further evidence of the market potential that Fishbrain aims to unlock through this investment.”