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Global Esports Brand Fnatic Raises $19M in Series A Funding Round
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New leadership announced naming former Mercedes AMG Formula One CEO, Nick Fry as Chairman, Entrepreneur Glen Calvert as COO and Fnatic’s founder Sam Mathews retakes CEO
Fnatic, the leading global esports brand, today announced it has secured $19 million USD in Series A funding. The investment round was led by tech entrepreneur Lev Leviev of LVL1 Group with new and continued support from investors including transatlantic VC firm Beringea, BlackPine, Unbound and Joi Ito.
With this investment, Fnatic will enter the next phase of its global expansion, strengthen involvement in tier-one leagues, including the League of Legends European Championships, launch new product categories in its esports equipment subsidiary including a new audio line, as well as scaling up resources to deliver and deploy marketing efforts and reach for brands on an international scale.
To support the company’s rapid growth, a new leadership team is being appointed. Former Mercedes AMG F1 Chief Executive Officer (CEO) Nick Fry is named Chairman, serial entrepreneur and founder of Affectv Glen Calvert is appointed COO and Fnatic’s founder, Sam Mathews, set to retake the CEO position.
Lead investor Lev Leviev said “Esports is the future of entertainment as well as one of the most dynamic and exciting emerging industries out there. Fnatic has established itself as a driving force both on the competitive stage and as a global business in esports, I’m excited to be part of the next chapter as Fnatic scales into a global lifestyle brand.”
“This is a pivotal moment in the evolution of Fnatic. I am incredibly proud of what we’ve achieved over the past 15 years and now is the time to build on this strong foundation to realise our vision of being the leading global esports brand. To have such high caliber investors is telling of the potential they see in Fnatic and our future,” added new CEO, Sam Mathews.
The latest round of investment will be used to structure the company for further expansion into Asia and North America, continue to partner with the most forward-thinking global brands and to cement its position as the leading lifestyle esports organisation globally.
For more information about Fnatic, visit www.fnatic.com.
About Fnatic:
Fnatic is a leading, global esports organisation with professional teams and unrivalled legacy in the most popular competitive games, including League of Legends, Counter-Strike, Dota 2, Fortnite, and more.
Founded in 2004 by Sam Mathews, Fnatic teams have claimed multiple international championships since its inception, including the inaugural League of Legends World Championship, seven EU LCS Championships and three separate CS:GO Majors, a record unparalleled by any other team.
Dedicated to being the first globally recognised esports lifestyle brand, Fnatic develops a line of award-winning gaming peripherals in-house, Fnatic GEAR, designs and produces a number of apparel lines as well as partners with the most forward-thinking global brands.
Fnatic is headquartered in London, United Kingdom with additional operational locations in Berlin, Belgrade, Los Angeles, Taipei, Shenzhen and Kuala Lumpur.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Global Esports Brand Fnatic Raises M in Series A Funding Round

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“Rock the Month”: Spinmatic’s monthly promos to power operator growth
As summer reaches its peak, so do the opportunities for operators partnering with Spinmatic. The premium Slot developer has launched two new exclusive offers as part of its ongoing Rock the Month campaign – a high-impact promotional series featuring targeted incentives, exclusive discounts and seasonal themes designed to support long-term operator growth.
After a strong debut in July with Fruit Fiesta and Summer Splash, Rock the Month has quickly become a key initiative for many partners, offering unique commercial advantages each month, exclusively to Spinmatic clients.
For August, the provider turns up the heat with two new offers: Summer Crash and Freespin Hype. Both are available to apply for until July 25 and designed to help operators during the summer’s most critical weeks.
This August’s promotions offer Spinmatic’s partners the chance to unlock up to 60% off in Revenue Share, depending on the offer selected. Full activation details – including game selection and placement requirements – are reserved exclusively for Spinmatic’s operator network.
“Our goal with Rock the Month is to bring consistent value to our partners,” said Norbert Mathies, Managing Director at Spinmatic. “We know operators are constantly under pressure to keep players engaged, so with our monthly promotions, we aim to offer something that’s genuinely useful. With two offers available each month, operators can choose the one that best fits their market. At the same time, we’re helping them get more out of their campaigns and explore new games with reduced risk.”
Spinmatic encourages operators and industry stakeholders to stay tuned, as new Rock the Month promotions will continue to be rolled out monthly. For those looking for innovative ways to increase player loyalty and revenue, now is the perfect time to get involved.
The post “Rock the Month”: Spinmatic’s monthly promos to power operator growth appeared first on European Gaming Industry News.
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BHA Initiates Campaign Against Tax Hike
The British Horseracing Authority (BHA) has urged the sport to collectively lobby the Government to back British racing and axe the Treasury’s proposal to hike tax on horserace betting by bringing existing online betting duties into one single rate.
The call comes ahead of the launch of “Axe the Racing Tax”, a BHA-led public campaign against the proposal which will be rolled out over the summer.
A tax hike for bookmakers in the Autumn Budget would be the third leg of a triple whammy of financial threats caused by Government policies which jeopardise the future of the sport in Britain.
Economic analysis commissioned by the BHA shows that aligning the current 15% tax rate paid by bookmakers on racing with that of online games of chance – currently taxed at 21% – by harmonising all remote gambling duties, could hit racing’s finances to the tune of £66m in lost income via the Levy, media rights and sponsorship. This is because operators are likely to seek to mitigate significant tax rises through cutting bonuses, reducing advertising and marketing budgets and increasing prices.
Should the Treasury seek to raise the proposed single duty rate further to help balance the books, the impact on racing’s finances would be devastating, with a projected £97m loss at a tax rate of 25%, a £126m loss at 30% and a £160m loss at 40%.
Brant Dunshea, Acting Chief Executive of the British Horseracing Authority, said: “It is vital that everyone working in racing, the media and bettors fully support and promote this campaign.
“The Government’s consultation on harmonising online betting duties, if followed through, poses one of the gravest risks to racing the sport has ever seen.
“It will punch a huge hole in racing’s finances, risk thousands of jobs across Britain and threaten the future of the country’s second most-popular sport and a cherished national institution.
“From now until the Budget we will be hammering home a very simple message to MPs, Peers and the Government on behalf of millions of racing fans. It’s time for the Government to back British racing and axe the racing tax.”
The post BHA Initiates Campaign Against Tax Hike appeared first on European Gaming Industry News.
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Change of Chairmanship in the GGL Board of Directors as of 1 July 2025
On the occasion of the four-year anniversary of the Joint Gambling Authority of the Federal States (GGL) on 1 July 2025, Sandro Kirchner, State Secretary in the Bavarian State Ministry of the Interior, for Sport and Integration, has taken over the chairmanship of the GGL Administrative Board, succeeding Reiner Moser, Head of Office in the Ministry of the Interior, for Digitalisation and Municipalities for Baden-Württemberg.
During Reiner Moser’s term as Chairman of the Board of Directors, the GGL further established itself as a reliable institution for the supervision and monitoring of the online gambling market.
“The online gambling market has developed rapidly in recent years. The GGL has met the resulting challenges with great commitment and can already demonstrate remarkable results both in combating illegal gambling and in regulating and supervising the legal market. The exchange between the states and the GGL is always trusting and results-oriented. I would like to sincerely thank the Board of Directors and all GGL employees for this constructive cooperation over the past year,” said Head of Department Moser.
State Secretary Kirchner takes over the chairmanship at a time when the GGL is pursuing ambitious goals, including stronger international networking, particularly to further curb the illegal gambling market.
“The consistent prosecution of illegal offerings and player protection are my highest priorities. The work of the GGL must continue to be significantly geared towards ensuring that the business model of illegal gambling is not profitable in Germany,” said Sandro Kirchner.
With regard to his role as Chairman of the Board of Directors, he added: “I look forward to continuing the successful work of everyone involved over the past four years. We will certainly continue to face many challenges. However, I believe the GGL is well positioned to achieve this.”
The Board of Directors is the supervisory and steering body of the GGL. It consists of the heads of departments or state secretaries of the ministries responsible for gaming supervision in the 16 member states. The chair of the Board of Directors rotates annually on July 1st in alphabetical order of the member states.
The post Change of Chairmanship in the GGL Board of Directors as of 1 July 2025 appeared first on European Gaming Industry News.
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