Eneba raises $8m for online gaming marketplace

Retailer to use funding for global expansion as it tries to compete with major online gaming retailers

Gaming marketplace Eneba has received $8 million in funding to continue growing its platform.

The Lithuanian storefront was backed by Practica Capital, InReach Ventures, and Vinted co-founder Mantas Mikuckas.

Eneba has seen rapid growth in the last two years since its launch, hiring 130 employees and reaching 26 million unique users largely from European countries such as the UK, Germany, Lithuania, Spain, France, and Poland.

With its newfound funding, Eneba will up its investments in product development as it works to expand into the US and other key global markets.

"We had a lot of new users coming to Eneba during these uncertain times," said CMO Žygimantas Mikšta.

"While it was extremely satisfying to see our numbers increasing tenfold, there was a challenge to meet the demand. To better reflect our user numbers, we had to quickly expand our team."

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