12.8 C
Saturday, June 15, 2024

Swedish startup expands its esports platform with $500K capital injection

- Advertisement -

Stockholm-based gaming startup E-GO APP has raised a capital injection of $300K, comprising of a pre-seed round worth $200K and a growth loan of $100K from a major Swedish bank. The funds will be used to enhance the B2B product and social features of the platform, making it more accessible to endemic and non-endemic businesses and setting a new standard for how esports fans experience the action with their friends. The company has also secured an option of an additional $200K in growth loans in the latter half of 2023. The successful capital injection highlights the company’s resilience in difficult times and its determination to achieve its goals in the rapidly growing esports industry.

“Reaching our goal of raising $200.000 in this pre-seed round, despite it being such challenging times, is a testament to the strength of our product, our team, and our ability to adapt when faced with testing times. I could not be prouder, nor could I be more thankful to our amazing cap-table who continue to believe in us”, said Viktor Maisey, CEO of E-GO APP. “We are committed to continuing our mission of delivering a best-in-class fantasy esport experience to our users, and this funding will enable us to do so even more effectively”.

E-GO APP’s B2B product is designed to enable easy access to brand engagement with esport fans globally, for endemic and non-endemic businesses. The company has seen strong interest in its product, which is expected to continue to grow as the esport industry expands.

“We strongly believe in the future of esports, and we are excited to be a part of it”, Maisey continues. “This funding will allow us to keep innovating and grow, and we look forward to continue to deliver exceptional results for our customers and unparalleled experiences to our users”.

Most of the invested capital comes from existing cap-table, with some of the main investors being Viktor Maisey (CEO), and Åsa Holmström (chairwoman), both of whom are part of the founding team. A few of the accompanying investors are, the publicly traded micro-VC company Northern CapSek Ventures AB (publ), and the tech entrepreneur Christian Frithiof with lots of valuable experience from previous ventures in the gaming sector.

- Advertisement -
Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

Related News

Stay Connected


Latest News