A Swedish online esports tournament organiser G-Loot has secured a $25M USD investment devoted to increasing the frequency of competitions with cash prizes.
According to a press of G-Loot it states participants in the investment include current owners Swedbank Robur and the Nordic Asset Management company Norron. Other owners not listed as having participated include Patrik Nybladh, Inbox Capital, and Transferator Ventures.
“It feels great that G-Loot now has secured 25 million US dollars to finance our ongoing expansion and to support our ambition to become the world’s leading online esports company,” Patrik Nybladh, CEO and founder of G-Loot said. “I am particularly glad that our current major owners increased their holdings when given the chance.”
G-Loot was founded in 2012 and currently holds partnerships with several brands including Turborilla, PLAYERUNKNOWN’S BATTLEGROUNDS Database-, Plantronics, Twitch Database-, and Huawei. The company’s brands include competitive PUBG platform GLL, and card game tournament organizer TopDeck.
Other recent investments in esports tournament organizers include prepaid cell phone service provider Smartcall announcing plans to give South African esports tournament organizer Mettlestate R10M ($720K). Meanwhile, Modern Times Group Database- last year increased its investment in ESL’s parent company Turtle Entertainment, upping its stake from 74% to 82.48%.