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Azerion raises €200 million

Proceeds will be used to expand company's presence in the EU and Nordic markets

This week, Azerion announced that it has secured €200 million ($242 million) via bond issuance on Nasdaq Stockholm.

A majority of the funds will be used to expand the company's presence in Nordic and European markets by way of multiple acquisitions.

"Online entertainment has become central to people's lives," said Atilla Aytekin, CEO and co-founder of Azerion.

"It has enormous business potential. Our vision is to make digital entertainment better, safer, and more reliable. That way everyone can enjoy the basic human need to play in a carefree environment, and advertising and publishing businesses can thrive."

This funding is the second largest that the digital games and monetization firm has received in two years.

Founded in 2015, Azerion has created a digital entertainment platform that provides content to all ages. Its growth has been supported by acquisitions such as Habbo Hotel developer Sulake and the mobile division of Spil Games.

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