Sections

Swedish firm G:loot receives largest esports investment in Nordic region's history

Confident investors back esports firm for $12.1 million

Swedish firm G:loot has been backed to the tune of $12.1 million, in what is the Nordic region's largest esports investment to date.

As reported by PocketGamer.biz, the investment was led by Swedbank Robur. G:loot will channel the funds towards staff recruitment, increased marketing, and platform development.

"We are very pleased that G:loot has now obtained heavy investors and capital in the Nordic region's largest investment in esports so far," said G:loot CEO Patrik Nybladh.

This is the second major round of funding the Stockholm-based company has received within the last year, after it raised $6 million from an array of investors including Inbox Capital, tennis pro Robin Söderling, and Sweden's national football team captain Andreas Granqvist.

G:loot, formerly known as Gumbler, developed an esports platform that facilitates gamers on mobile, tablet, and PC games to compete and win real money against friends and strangers alike.

Along with organising offline tournaments through its partnerships with PGL and Dreamhack, G:loot also operates the Global Loot League for PlayerUnknown's Battlegrounds.

"There was a tremendous interest from investors. In fact, we couldn't offer everyone interested to participate," added Nybladh.

"This is just a beginning of a very promising future. The financial backing gives us the opportunity to realise our vision: Anyone, anywhere in the world, shall have the possibility to win money in games they already play and love."

Related stories

Mail.Ru acquires largest Russian esports company in $100m deal

Esports "forecast by some to overtake the traditional sports market over the next decade," says Mail.Ru CEO

By Haydn Taylor

Overwatch League player benched following homophobic remarks during livestream

Dallas Fuel's Felix "xQc" Lengyel suspended until February 10

By Haydn Taylor

Latest comments

There are no comments on this article yet. Why not be the first to post one?

Sign in to contribute

Need an account? Register now.