Sport Exchange, a new Wales-headquartered sports ticketing and marketplace platform, has been launched to cater to fans globally and support grassroots sports.

The new platform includes ticketing and VIP event passes, as well as a space online to watch all varieties of sports and a marketplace with more than 1,000 brands.

The Welsh firm has vowed to donate a portion of their revenue to develop grassroots sports and increase participation locally.

Eifion Weinzweig, the founder of the site, wanted to help grassroots sports attract a larger audience, in addition to providing one place for fans to access all things sport.

Sport Exchange is supported by AgorIP, which brings academics, clinicians and businesses together to support research into technologies with the support of Swansea University, and the European Regional Development Fund through the Welsh Government.

The new organisation already has partnerships with a number of sports federations, including the Royal Dutch Cycling Federation and Danish Cycling, Italian Serie B football teams and European ice hockey teams.

It is also in partnership talks with several Olympic Federations in the lead-up to the 2020 Olympic Games in Tokyo, and is working closely with professional football teams in Italy, the UK and Asia.

The platform offers a three-tier subscription service ranging from bronze to gold which include varying levels of access to stream live sport, buy VIP tickets and obtain product discounts.

Weinzwig said, according to Business News Wales: “We work with federations around the world to provide value to their members. By working with commercialised sports in the countries we operate in, we are promoting many different sports in one place, giving some sports a far bigger outreach than usual.

“We have a growing database of subscribers from seven countries in Europe and expanding into Asia in Q2 of 2020. Some sports don’t have the database engagement that we have generated, so what we are doing bring more people into certain sports, and helps those sports attract new sponsors.

“It’s difficult at the moment to see where the sports economy is going. We know that government and lottery funding for sports federations in their respective countries is declining, so by working directly with those sport organisations, we can help out, especially with grassroots sports.”