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8th July 2021

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G-Loot secures $56m in new investment for expansion plans

Swedish esports firm closes a huge round for its democratic esports tournament platform

The Swedish esports company G-Loot has secured $56 million in investment to support its growth plans.

G-Loot said that the SEK 500 million ($56 million) in new investment was supported by all of its major shareholders, including Swedbank Robur, Norron, CNI, Inbox Capital and Celox.

The Stockholm-based company has been active in raising investment in the past, with $12.1 million in January 2018 and a further $25 million in March 2019.

G-Loot's platform allows players of all levels to compete against each other in online tournaments -- without the need for qualifiers, but retaining the ability to win real-money prizes.

This is markedly different to its earlier strategy of creating tournaments only for "the top 2% of players."

"In the future, we want esports to be available to any gamer, in any game, on any device, anywhere," said CEO Patrik Nybladh in a statement, underlining the company's decision to move away from elite tournaments.

"In the coming months we'll be focussing on growing our player base, optimizing our service, and securing G-Loot as a strong and reliable brand in North America and worldwide."

The G-Loot platform is built on technology that works with games without the need for direct integration or official APIs. As such, it can be used very quickly when a popular new esports title emerges.

It has already partnered with publishers like EA, Garena, Tencent, Lenovo, and PUBG Corporation on esports tournaments for their games.

Celebrating employer excellence in the video games industry

8th July 2021

Submit your company

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