FinTech firm Scout secures new funding to enhance financial tools for college athletes

February 6, 2025

Scout, a financial technology firm specialising in financial literacy, tax, and investment solutions for collegiate athletics, has successfully closed a new round of venture capital funding.

The company, founded in 2021, develops tailored financial tools for student-athletes, athletic departments, and conferences, supporting them in managing complex financial operations.

While the exact amount of the new investment has not been disclosed, the funding round saw participation from high-profile investors, including Andy Katz, founder and past chairman of The College Sports Company, and Adam Breneman, a former All-American tight end turned media entrepreneur.

Other investors include Oli Marmol, manager of the St. Louis Cardinals, as well as entrepreneurs Jim Briles and Merek Shoob.

Katz and Briles will join Scout’s board of directors to provide strategic guidance as the company scales. Previous backers include OneTeam Partners, NBA star Chris Paul, Reach Capital, Hustle Fund, J4 Ventures, Techstars Sports, and Chingona Ventures.

Andy Katz, an early investor in Scout, expressed confidence in the company’s growth trajectory. “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.”

With this latest funding, Scout plans to accelerate the development of its personalised financial tools for student-athletes and their families.

Adam Breneman also highlighted the company’s significance in the NIL era, stating, “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.”

Scout’s CEO, Michael Haddix Jr., reinforced the company’s mission, saying, “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.”