Swedish esports company G-Loot has secured 25 million US dollars, approximately 230 million SEK. This is one of the largest investments ever made in a European esports company. The funds raised will be devoted to increasing the pace with which competitions with cash prizes are offered in PC and mobile gaming to more players globally. The major current owners, including Swedbank Robur and the Nordic Asset Management company Norron, have participated in the heavily oversubscribed emission.
”It feels great that G-Loot now has secured 25 million US dollars to finance our ongoing expansion and to support our ambition to become the world’s leading online esports company. As far as I know it is the largest European esports investment ever. I am particularly glad that our current major owners increased their holdings when given the chance”, says Patrik Nybladh, CEO and founder of GLoot.
Marcus Plyhr, Portfolio Manager at Norron, says: ”We have been following G-Loot for a longer period of time as owners and have now chosen to increase our holdings in the company. G-Loot has demonstrated that its business model with a scalable platform with global reach works. Furthermore, they have the drive and tempo that has made the company succeed in everything they did for the past year. We are glad to be able to support the company in realizing their vision for making esports competitions with prize money available for everyone globally.”
Another major investor is Swedbank Robur through their funds Ny Teknik, Microcap and Fokus, whose Fund Manager Henrik Carlman says: “Esports is one of the fastest growing forms of entertainment today. There are plenty of opportunities and many companies are trying to get a piece of the growth but only a few of them have a clear idea on how to monetize the emerging industry. G-Loot are among the very few with a proven business model and a grand vision of democratizing esports and making competitive gaming available to all. I am very proud and enthusiastic to support G-Loot and its entrepreneurs with our second investment in the company. G-Loot’s strong growth and improved profitability creates a fantastic opportunity for our funds to participate in this kind of value creation.”
G-Loot is the world’s first online esports platform for mobile and PC games where players compete against each other for cash prizes. G-Loot is democratizing esports through allowing all players in the world to participate in the same competitions for the games they already play and love. Among GLoots tournaments are: GLL, one of the foremost leagues globally for PlayerUnknown’s Battlegrounds, the most sold PC game in 2017 (see play.gll.gg), and the tournament platform for the mobile game Madskills Motorcross 2.
The largest owners of the company apart from Patrik Nybladh, Swedbank Robur and Norron are Inbox Capital and Transferator Ventures.
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G-Loot was founded in 2013 by Patrik Nybladh and has had its unique platform on the market since the fall of 2015. G-Loot today has 40 employees and on the board are among others Johan Persson, co-founder of MAG Interactive.
(Image) Source: Press release