ClearBank Co-Founder's SPORTA Secures £5m to Build UK's First Dedicated Sports Bank

SPORTA has secured a £5 million follow-on investment from the Lazaroo-Hood Group, positioning the fintech to pursue its goal of becoming the UK’s first fully authorised bank dedicated to the sports economy. This capital injection, alongside a suite of senior leadership hires, signals a significant scaling of infrastructure for clubs, athletes, and grassroots organisations.

What was announced

The £5 million investment from the Lazaroo-Hood Group, a family office, makes the group SPORTA’s largest shareholder alongside its founders. This follow-on funding follows the group’s role as founding lead investor and sees them take a seat on the SPORTA Group’s board. The capital is earmarked for the development of technology, partnerships, and the operating foundations necessary for SPORTA’s application for bank authorisation.

In tandem with the funding, SPORTA has expanded its leadership team with several key appointments. David Wishart joins as Chief Risk Officer, while Indi Chahal takes the role of Chief Information Officer. Mark Hodgkisson has been named Chief Financial Officer, and Jess Blakey joins as Chief Commercial and Marketing Officer. The operational and technical teams have also been bolstered by Fanoula Grekos as Head of Operations and Adrian Moreno as Head of Engineering.

These roles, particularly those requiring regulatory approval, are central to the company’s strategy to build a dedicated financial home for the sports sector. The infrastructure is designed to serve a broad spectrum of the industry, ranging from professional clubs and individual athletes to fans and grassroots sporting organisations.

"Sport has always had its own economy, its own pressures and its own way of bringing people together. But it has not always had financial infrastructure designed around those realities."

Andrew Smith, CEO and founder of SPORTA

The companies involved

SPORTA is a business building dedicated financial and digital infrastructure specifically for the sports economy. Based in the UK, the company aims to bridge the gap between traditional banking services and the unique financial requirements of the sporting world, including leisure and wellbeing sectors. It has previously positioned itself as an AI-native platform designed to handle the specific cash flow and operational nuances of sports organisations.

The Lazaroo-Hood Group is a family office that operates as a long-term strategic partner for its portfolio companies. Led by founder and CEO Ross Lazaroo-Hood, the group has been a primary supporter of SPORTA since its seed round in 2025. The group’s investment philosophy focuses on backing businesses capable of creating generational change within their respective sectors. By becoming the largest shareholder in SPORTA, the Lazaroo-Hood Group deepens its involvement in the fintech’s trajectory as it moves through the complex regulatory process of obtaining a banking licence in the United Kingdom.

What FF News has reported before

FF News has closely followed SPORTA’s development, previously reporting on the appointment of former Sainsbury’s Bank CRO David Wishart to lead the firm's risk strategy. The company has also been active in establishing commercial proof-of-concept, notably when SPORTA signed Stevenage FC as a flagship partner to demonstrate its sports banking vision. Earlier in 2026, the firm launched a partnership to democratise Olympic sailing, showcasing the breadth of its sporting focus. This follows a successful community-led funding phase where SPORTA closed a Crowdcube round in late 2025, drawing support from fans and industry participants alike.

What this means

The pursuit of a vertical-specific banking licence is a high-stakes move in a market where generalist neobanks have traditionally dominated. By focusing exclusively on the sports economy, SPORTA is betting that the industry’s specific needs—such as seasonal revenue cycles and complex contract structures—are underserved by incumbent banks. This £5 million injection provides the necessary runway for the rigorous regulatory "mobilisation" phase, but the real challenge lies in whether a niche focus can generate the scale required for long-term profitability. If successful, SPORTA could force traditional lenders to reconsider how they segment high-value, specialised industries that require more than a one-size-fits-all digital wallet.