Data startup Levels Technologies raises £500k led by FSE Group and Akira Financial
This article covers Levels Technologies, a data startup, which has raised £500k in a pre-seed funding round led by The FSE Group, including £250k via the British Business Bank’s South West Investment Fund. The funding will support expansion of its rankings and ratings platform from squash into padel and other racket sports to improve player matching and participation.
Levels Technologies, a data startup based in Bristol, has raised £500,000 in a pre-seed funding round led by The FSE Group — which invested £250,000 through the British Business Bank’s South West Investment Fund — with participation from Akira Financial, the Professional Squash Association (PSA) and the Haley Family Office. The capital will be used to expand the company’s rankings and ratings platform beyond squash into padel and other racket sports, addressing rising demand for data-driven matching and community features in sports apps.
Why it matters
The investment highlights a practical use of sports data to improve participation and matchmaking in grassroots sport. Padel and other racket sports are among the fastest-growing recreational activities globally, and better player ratings and dynamic rankings can make amateur competition fairer and more engaging. For a small team, proving product-market fit in a niche such as squash before opening into larger markets is a lower-risk route to international growth.
Inside the product
Originally launched as SquashLevels, the platform combines player performance data, dynamic rankings and social features across web and mobile. Its algorithms produce ratings intended to match players of similar ability and let users track progress, compete and connect. Levels says it has already built a strong user base in squash and will use the new funding to create new sports verticals — starting with padel — and to grow its commercial and data teams.
Who are the investors?
The round was led by The FSE Group, which contributed £250,000 via the British Business Bank’s South West Investment Fund. Other named participants include Akira Financial, the Professional Squash Association and the Haley Family Office. Exact checks from co-investors were not disclosed.
In the announcement, Matt Browning, Investor at The FSE Group, said:
Levels has developed a differentiated platform that is already demonstrating strong engagement from its user base. The team has built a product that solves a clear problem in how players are ranked and matched, and there is a significant opportunity to apply this across a range of growing racket sports. With proven traction and clear expansion plans, we believe the business is well positioned for further growth.
In the announcement, Tommy Berden, Chief Commercial Officer at PSA, said:
We are delighted to increase our investment in Levels Technologies alongside the FSE Group and other investors. SquashLevels has proven to be a real value add for the sport of squash and we are excited to see Levels expand into other racket sports.
In the announcement, Lizzy Upton, Investor at British Business Bank, said:
Levels Technologies is another example of a data-driven business aiming at global markets. The company's innovative use of digital technology and data to improve participation and engagement in racket sports has created a strong platform for growth. Through the South West Investment Fund we are pleased to be supporting their next phase of expansion.
If you're researching potential backers in this space:
- Explore our list of data venture capital firms in the UK
- Browse our directory of data angel investors in the UK
Founder perspective
In the announcement, Jethro Binns, Co-CEO at Levels Technologies, said:
We built Levels to bring a more accurate and engaging way for people to play racket sports, starting with squash and now expanding into much larger global markets. This investment allows us to accelerate that vision, develop the platform further and grow our partnerships internationally. The support from FSE and our co-investors brings valuable experience as well as capital, and we're looking forward to working closely together as we scale.
Binns frames the round as both product and partnership capital: funding will support technical development, new sport verticals and commercial partnerships that can help drive user growth internationally.
The bigger picture
This deal sits at the intersection of consumer sports apps and sports data monetisation. Investors are increasingly receptive to businesses that turn routinely generated participation data into features that improve retention and engagement. For Levels, success will depend on converting its squash user base into multi-sport networks and on forging partnerships with governing bodies and clubs — the PSA involvement is an example of that strategy.
UK regional funds such as the South West Investment Fund are using relatively small checks to de-risk early product validation and attract follow-on capital. If Levels can demonstrate growth in padel and other markets, it could be a useful case study for data-led consumer startups looking to scale from a single-sport foothold.
The investment underlines a wider trend in the UK and Europe: niche sports technology businesses that combine data and community features are attracting early-stage support from both specialist investors and public vehicles aiming to boost regional tech ecosystems.
They've invested in Levels Technologies
Get to know these data investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 The FSE Group( ) FSE Group focuses on supporting high growth businesses through business loans an... London  | ||||
 British Business Bank( ) The British Business Bank focuses on enhancing finance accessibility for smaller... Sheffield | ||||
| All investors | All investor sectors | All funded startups | All funding rounds |
Click here for a full list of 7,589+ startup investors in the UK