From start-up to unicorn: the meteoric rise of The Binary Holdings.
What once began as a media, entertainment, and fan engagement platform for both live and e-sports has now grown into a unicorn, already counting some of the world’s largest telecom companies among its clients.
The rapid growth shows no signs of slowing down. An IPO is in the making. Dutch Sport Tech Fund has already introduced several participations to TBH, allowing them to benefit from TBH’s enormous user base.
"Web3 infrastructure that can be integrated into telecommunications and banking apps"
The Binary Holdings (“TBH”, formerly Fando) is building a web3 infrastructure for telecommunications companies and banks, currently with a focus on Asia. The TBH network (“Layer 2”) helps its telecom clients save costs on a revolutionary scale. It also helps them bridge the gap between Web2 and Web3 experiences for end users (with TBH, they can access unlimited high-quality content, play games, stream, etc.).
The Binary Holdings has a lead over the competition, as it is a “first mover” in major Asian markets such as India, Indonesia, and China. It offers a unique proposition for both banks and telecom companies. Currently, TBH already has commercial contracts with 7 national telecom giants, two of which are also shareholders. They also provide unique solutions for banks, and work with Mastercard, National Bank of Qatar, and Citibank. Europe is also coming into TBH’s sights; telecom giants such as Vodafone, Deutsche Telekom, and Telefónica are signing contracts with TBH. TBH also has an accelerator division with approximately 40 participations to date.
It already has 170 million users today. This number is growing exponentially. By the end of 2025, the target is to have more than 1 billion users. Revenue in 2024 will be approximately $11M with an EBITDA of 20%. This revenue is projected to reach $4B by 2027 with an EBITDA of 35%. The Binary Holding is aiming for an IPO at the beginning of 2027 and will soon have a new financing round, at a valuation more than 100 times higher than when Dutch Sport Tech Fund invested. This has made our investment much more valuable. DSTF holds approximately 2.1% of the shares.
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