Sporta gets £5m injection as it seeks UK banking license

Sporta’s bid to become the UK’s first authorised bank dedicated to sport has been boosted by a £5m cash injection from a London-based private equity house. The Lazaroo-Hood Group, which also has a base in Jersey, will make the organisation Sporta’s largest shareholder, alongside the firm’s founders. The raise is a follow-on investment after earlier moves from the private equity group. It follows on from a partnership announced earlier this year between Sporta and League One football club Stevenage. Chief executive Andrew Smith said the “investment shows the confidence in Sporta’s mission and the seriousness of how we are building the business”. He added: “We’re putting the right people, technology, governance and operating foundations in place from the outset because that s what building a bank properly demands. “Lazaroo-Hood Group has been with us from the beginning as a founding lead investor and long-term partner. Their continued support gives us the platform to keep