Investments, Press Release
RFRSH Entertainment Strengthens Financial Foundation by Raising more than €7M

RFRSH Entertainment Strengthens Financial Foundation by Raising more than €7M

Since launching in December 2016, RFRSH Entertainment has established itself as a major player in the eSports scene through commercial management and performance optimization for 3 of the world’s strongest CS:GO (Counter-Strike) teams: Astralis, Heroic and GODSENT.

Simultaneously, the RFRSH organization has worked on developing a range of new concepts including a unique series of media content and live events to be announced later this year.

Backed by a group of strong international venture capital investors and exceptional private investors, RFRSH Entertainment has now strengthened the company’s financial foundation through a capital injection of 7.2 million EUR.

Nikolaj Nyholm, Founder and CEO notes: “Needless to say, I’m very pleased to note the strong support. The backing from companies like Creandum and founders of Supercell as well as a number of private capacities including Tommy Ahlers and David Helgason is a major step in our efforts to establish ourselves as a centre of both endemic and mainstream eSports entertainment.”

RFRSH has been developing quickly over the past year, and Nikolaj Nyholm adds: “Since the launch RFRSH has been through a tremendous development. We have built an extremely competent and experienced organization with deep roots in eSports, live entertainment and the pro sports industry, and we’re underway with a number of new concepts to be introduced over the last half of 2017. This will include the launch of a range of new unique content and media packages, game changing live events and a further strengthening of the organization around the CS:GO teams benefitting the teams, fans and the partners.”

The capital injection secures a continuous very strong position and gives RFRSH the possibility to both strengthen the organization, support of the teams affiliated with the company and invest in new, original media and live entertainment products.

With an estimated 350 million fans worldwide, eSports already attracts significant viewerships and mass audience exposure. Estimates show the number or viewers growing year of year.

Simon Schmincke of Creandum, one of the new members of the investment group, comments: “We have no doubt that the RFRSH organization is in the perfect position to take eSports live entertainment a step up, and we are confident that the platforms being developed by the team will become a major channel for endemic as well as non-endemic brands to reach a new and younger audience, who is no longer active via traditional media channels. We believe this is the chance to elevate eSports content on the next level.”

RFRSH Entertainment is founded by Danish tech entrepreneur Nikolaj Nyholm together with Rene Rechtman and Jakob Lund Kristensen.

About Creandum

Creandum is a leading European venture capital firm, focusing on innovative and fast-growing technology companies across Europe. The Creandum funds have over €400M under management with offices in Stockholm, Berlin and San Francisco. The Creandum funds have over the last 15 years invested in more than 60 companies including Spotify, Tictail, iZettle, Edgeware and Vivino. For more information, please visit

About RFRSH Entertainment

Established in Copenhagen in 2016, RFRSH Entertainment is an eSports entertainment and media production house. RFRSH runs the commercial management and performance optimization for CS:GO teams Astralis, Heroic and GODSENT. We are a new breed of eSports professionals striving relentlessly to lift and open the scene into a new place, relevant to a broader audience from a base deeply rooted in the eSports history and culture.

Source: Press release

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