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Fnatic secures $17m led by Marubeni to drive further global growth

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Fnatic secures $17m led by Marubeni to drive further global growth
Fnatic secures $17m led by Marubeni to drive further global growthReading Time: 2 minutes

 

High-performance brand will harness $1bn esports market in 2021

Fnatic, the high-performance esports brand, has announced a $17m funding round led by one of the largest conglomerates in Japan, Marubeni Corporation (“Marubeni”). This investment will incorporate a strategic partnership to support Fnatic’s expansion into the growing Japanese esports sector, and the substantial Asia-Pacific market. 

Marubeni’s investment in Fnatic builds upon twelve months of growth, including an 80% year-on-year increase in revenues year-to-date and expansion as a high-performance esports brand. Fnatic will now strengthen its position in the rapidly growing esports market, which Newzoo anticipates will generate $1.08bn in revenues in 2021. 

The previous twelve months have also accelerated the growth of the global esports industry, particularly in cornerstone markets such as China and East Asia. Newzoo projects that the worldwide esports audience will grow to 474 million people in 2021, with 92.8 million enthusiasts in China alone. This global audience is expected to reach more than 577 million by 2024. 

To tap into this global and growing market, Fnatic has recently strengthened its leadership team with the addition of Georgina Workman (Head of Studios, Previously Appear Here), Julien Dupont (Partnership development, previously Vitality/Havas), Oliver Royce (Head of Apparel, Previously Gymshark) and Patrick Foster (CFO, previously Getaround). It has also continued to develop its high-performance esports brand through expanding its digital and physical performance products – revenues from these ranges have increased by 91 per cent year on year in the first quarter of 2021. 

The investment from Marubeni will also accelerate Fnatic’s growth in the substantial Asia-Pacific market with a new strategic partnership that will incorporate the expansion of Fnatic’s base of operations in Japan and support for Fnatic’s Rainbow 6 Siege team who plan to relocate to the country. The Japanese esports industry is a significant and growing market, expected to increase in value by more than 250 per cent between 2019 and 2023. More than 6.9 million people attended esports events in Japan in 2020, a 42 per cent increase on the previous year.

The current round includes a range of international family offices and institutional investors, alongside venture debt from Bootstrap. The round comes after Fnatic’s groundbreaking crowdraise in 2020, which was joined by more than 3,500 investors. 

Fnatic CEO Sam Mathews said: “We’re so excited to have the strategic know-how of Marubeni leading this funding round.  Marubeni’s knowledge of Japan’s business landscape will be a huge asset to Fnatic as we expand our commitment to APAC.”

Founded in 2004, Fnatic is the world’s leading high-performance esports brand, with more tier-1 tournament wins than any other organisation. This focus on performance has enabled the growth of Fnatic’s pioneering esports equipment line, which grew 52 per cent in 2020. Fnatic has also expanded its high-performance teams globally, with a worldwide squad of 40 pro gamers across 8 game titles, and more than 100 staff in 6 offices globally.

 

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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REEVO Partners with BEON

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REEVO has entered into a new partnership with BEON, an emerging game provider known for its technical excellence and fast-paced innovation.

The collaboration will see BEON’s expanding game portfolio integrated into REEVO’s advanced aggregation platform, giving REEVO partners access to BEON’s high-performing and distinctive titles. This partnership reflects REEVO’s ongoing commitment to delivering top-quality, diverse and exciting content to operators worldwide.

BEON’s reputation for simplicity, precision and reliable technology aligns perfectly with REEVO’s vision of creating seamless and scalable solutions for its partners. By adding BEON’s games to its aggregation platform, REEVO continues to strengthen its mission to make premium content easily accessible to operators looking to stand out in a competitive market.

Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with BEON is another strong step forward for REEVO. Their focus on building quality games backed by solid technology fits perfectly with our approach to innovation and speed. We are excited to bring BEON’s growing portfolio to our partners and believe this collaboration will add real value to the REEVO ecosystem.”

Saba Chkheidze, Managing Partner at BEON, added: “We’re happy to team up with REEVO. We share the same vision of creating high-quality gaming experiences, and we’re looking forward to combining our strengths to bring more value to our partners and players.”

The post REEVO Partners with BEON appeared first on European Gaming Industry News.

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Turkish Football Federation Suspends 149 Referees and Assistants After Betting Probe

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The Turkish Football Federation (TFF) has suspended 149 referees and assistant referees after an investigation found hundreds of professional match officials in the country had betting accounts.

Bans ranging from eight to 12 months, based on the severity of the act, have been imposed for involvement in betting activity, with investigations into three other officials still ongoing.

The full list of the penalised officials was published on the TFF website.

Last week, it was revealed a five-year probe had found 371 of 571 match officials have betting accounts, with 152 of those actively gambling.

While some had only bet once, 42 had bet on more than 1000 football matches – with one official found to have placed 18,227 bets.

Like players and coaches, match officials are forbidden from participating in betting activities by TFF disciplinary regulations, as well as those of world governing body Fifa and European governing body Uefa.

“There is a moral crisis in Turkish football. There is no such thing as structure. The fundamental problem at the core of Turkish football is an ethical one,” TFF president Ibrahim Haciosmanoglu said.

“Ask any referee, if there is even one who has not received his pay, I will resign as federation president. In fact, we improved their salaries last year, and again this year.”

No further details of the cases or ongoing investigations were provided.

After the investigation’s findings were announced, a number of Turkey’s top clubs responded.

Besiktas said it “could mark a new beginning for clean football” while Trabzonspor called the development “an historic opportunity to rebuild justice in Turkish football”.

Fenerbahce president Sadettin Saran said: “This is both shocking and deeply saddening for Turkish football.

“But the fact that it is coming to light is a hopeful development.”

The post Turkish Football Federation Suspends 149 Referees and Assistants After Betting Probe appeared first on European Gaming Industry News.

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UKGC Suspends Operating Licence of VGC Leeds Limited

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The UK Gambling Commission has suspended the operating licence of VGC Leeds Limited as it carries out a review under section 116 of the Gambling Act 2005.

The review and consequent suspension follow concerns that activities may have been carried out contrary to the Act, not in accordance with conditions of their licence and that the Licensee may be unsuitable to carry on the licensed activities.

During a recent Compliance Assessment, VGC Leeds Limited are reasonably believed to have failed to maintain and implement effective anti-money laundering policies, procedures and controls, as required under the conditions of their licence.

In addition, serious concerns were identified regarding the adequacy of decision-making processes and the Licensee’s response to identified anti-money laundering and counter-terrorist financing risks, raising questions about the overall effectiveness of its governance and risk management arrangements.

These failings are considered significant and represent a serious threat to the licensing objectives, in particular keeping crime out of gambling.

“We have made it clear to the operator that during the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them,” UKGC said.

The suspension takes place immediately.

The post UKGC Suspends Operating Licence of VGC Leeds Limited appeared first on European Gaming Industry News.

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