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Esports brand Fnatic raises $10m

Also offering fans the chance to invest via $1.3m Crowdcube campaign

UK-based esports brand Fnatic has secured fresh investment of $10 million, and is launching a crowdfunding initiative to raise more.

The investment round was led by venture capital fund Beringea, with existing investors Unboard, LVL1 Group, JHD and key members of management also participating.

Fnatic has now raised $35 million today.

The $10 million will be used to further grow the brand and support its professional teams.

The esports firm has also partnered with Crowdcube to start a new crowdfunding campaign, giving the teams' fans the chance to invest in the business.

The campaign will start on November 19 and aims to raise a further $1.3 million for the company.

Funds raised from fans will be specifically be used for initiatives that "seek out and level up the next generation of gamers."

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