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Eneba raises $8M from InReach, Practica and VInted’s Mikuckas to grow gaming marketplace
Slick localized buying experience, innovative approach to fraud and automated local gaming trend detection contribute to Eneba’s status as a preferred marketplace for gaming community with stratospheric growth to 26M users
Eneba (www.eneba.com), the world’s fastest growing marketplace for gamers, has today announced that it has raised a total of $8M led by Practica Capital and InReach Ventures, the AI-powered venture capital firm, with contribution from FJ Labs and a group of established Angel investors including Mantas Mikuckas, COO of Vinted.
Launched in 2018 by two Lithuanian school friends, Vytis Uogintas and Žygimantas Mikšta, Eneba provides a marketplace for gamers to safely purchase everything they need for the world’s most popular games. Combining an unrivalled buying experience with superior proprietary security features, Eneba has already attracted a community of 26 million unique users.
Operating under the radar until now, Eneba has quickly made an impact in the gaming sector thanks to its new approach, where previously others have not innovated. Eneba presented the market with a superior ‘one-click buy’ gamer experience and a faster, more secure service by using proprietary machine learning and fingerprinting technology.
The team also created localised gaming experiences that proved an immediate hit with gamers by using automatic optimising discovery tools for locally trending gaming products.
As COVID-19 struck Eneba was already growing fast, but, with an increased shift to digital entertainment, the startup experienced exponential growth and an increased interest from US gamers; now the company’s fastest growing geography.
“We had a lot of new users coming to Eneba during these uncertain times. 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,” said Co Founder and CMO, Žygimantas Mikšta. “We now have a 130-strong team of brilliant software developers, risk analysts and marketing experts that have built a delightful experience for 26 million consumers across multiple geographies such as the UK, Germany, Lithuania, Spain, France, Poland, and other European countries.”
As the startup grew, there were many challenges for the company in order to maintain its new found momentum. Vytis Uogintas, CO Founder and CEO said that rapid organization growth has been one of the biggest to date. However, he also emphasizes that Eneba’s breakthrough has been determined by the team.
“Finding people you can trust and who share your vision is not easy. However, we had plenty of contacts from our previous ventures that kickstarted the whole process. Right from the get-go, we were emphasizing our company culture as our top priority. For me, it’s much more enjoyable to see happy colleagues and when they’re happy, it’s easier to communicate with them and reach desired goals.”
Eneba will use its funding to accelerate investments in product development making the platform faster, safer and easier to use, and to expand further in the US and across other key global markets. To prepare for this roll-out, Eneba has developed its own risk management system. The new system was developed in-house to better fit the company’s goals. It eliminates many risky transactions, simplifies the refunding process, and blocks majority fraud threats, thus making Eneba stand as one of the safest marketplaces on the internet.
“We are thrilled to be backing Vytis and Žygimantas. We’ve been impressed by their ability to execute at such speed as their company quickly scales, and to drive an incredible product with a unique value proposition for gamers. It also could not have come at a better time. We are excited to support one more team from the Baltics that has a clear ambition to lead their sector globally,” said Donatas Keras, partner at Practica Capital.
Co-founder of InReach Ventures, Roberto Bonanzinga, said “In Europe we have a tradition of building successful companies in the gaming space. We are very excited to have discovered Eneba thanks to our AI platform when the company was unknown and under the radar. We have been extremely impressed by what the founders have been able to build in such a short amount of time.”
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: Eneba raises M from InReach, Practica and VInted’s Mikuckas to grow gaming marketplace
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Boldplay embarks on new chapter as Valli Fragoso steps down as CEO
Boldplay, an innovative international game development studio recently acquired by Openbox Holdings, has announced that Valli Fragoso has stepped down from the role of Director and CEO as she looks to pursue new opportunities.
The leadership change marks a pivotal moment for the game studio as it enters a new period of growth and innovation within the Openbox Holdings group.
Valli has played an instrumental role in establishing Boldplay, overseeing several transformative initiatives that have positioned the company as true disruptor within the casino game development space – with hit titles including Brute Force, Cam Carter and the Cursed Caves, Cyborg City and Speed Heist.
Her decision to step down follows a five-year tenure, with her leadership laying the foundation for closer alignment with Openbox’s corporate vision and long-term commercial goals.
Founded in 2019, Boldplay has quickly become a highly sought-after brand within the game development space, with its portfolio of partners including tier one operators across Europe, LatAm and the US – such as ApuestaTotal, BetMGM, Grosvenor Casinos and Sportingbet.
Openbox and Boldplay will continue to work closely with one another to ensure a seamless leadership transition, while also remaining laser-focused on their core mission of setting new benchmarks for iGaming excellence.
Together, the two companies will leverage their combined technology, commercial expertise and resources to offer players innovative casino content.
Richard Hogg, CEO of Openbox Holdings, commented: “I, and the wider Openbox Holdings team, want to extend our warmest gratitude to Valli for her dedication and contributions to Boldplay. Over the last five years, she has made the studio an iGaming force to be reckoned with. We wish her the best for her future endeavours.
“As Boldplay enters this new chapter, we are excited about the opportunities that lie ahead as we continue to leverage our synergies to drive bold innovation and deliver exceptional value to our partners. Boldplay is stronger than ever, and this transition allows us to refine our focus on delivering exciting experiences and expanding market presence in 2025 and beyond.”
The post Boldplay embarks on new chapter as Valli Fragoso steps down as CEO appeared first on European Gaming Industry News.
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Greco to Enhance Lottoland’s Gameplay Risk Capabilities
Greco, the leading provider of the Gameplay Risk Engine, is proud to enter a partnership with Lottoland, a global leader in the online lottery sector.
This collaboration will see Lottoland integrate Greco’s innovative Gameplay Risk Engine to enhance player management, minimise risk, and optimise operational efficiency across its platforms.
“At Lottoland, innovation is at the heart of everything we do. Partnering with Greco aligns perfectly with our mission to deliver world-class experiences to our customers. Greco’s unique Gameplay Risk Engine will assess player behaviours, ensuring a secure and seamless experience for our growing community of 20 million customers,” says Mike Kirwian, VP Marketing & Commercial.
Operating in 15 markets, Lottoland is renowned for revolutionising the lottery market and has recently announced a record number of 20 million customers worldwide. Through this new partnership, the operator continues its commitment to delivering exceptional player experiences in the lottery space as a market leader.
“We’re thrilled to welcome Lottoland as a partner. Their commitment to innovation and player-centric operations aligns closely with our values. With our Gameplay Risk Engine, Lottoland is well-equipped to enhance efficiency and reinforce its position as a global leader in the online lottery space,” remarks Ozric Vondervelden, Co-Founder and CEO of Greco.
Greco’s Gameplay Risk Engine leverages theoretical value modelling and behavioural risk analysis, giving operators key insights to reduce costs and improve marketing efficiency. This partnership marks another milestone for Greco as it expands its footprint in the iGaming industry.
The post Greco to Enhance Lottoland’s Gameplay Risk Capabilities appeared first on European Gaming Industry News.
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GR8 Tech Granted Recognition Notice from Malta Gaming Authority
GR8 Tech has received a Recognition Notice from the Malta Gaming Authority (MGA), authorizing the platform provider to expand its product reach within Malta’s jurisdiction. This recognition grants GR8 Tech the same rights as a standard MGA B2B license, confirming the company’s compliance with regulatory standards and strengthening its position in the European iGaming market.
With this license, GR8 Tech can offer its high-performance iGaming services, including Hyper Turnkey Solution, Sportsbook Turbo iFrame, and Infinite Casino Aggregation, to a broader audience. The company can now tap into new growth opportunities in one of the world’s most respected regulatory environments, ensuring operators benefit from its cutting-edge technology and compliance excellence.
“Being granted the Malta Gaming Authority recognition is a big step for GR8 Tech. It highlights the strength and trust in our solutions, opening the door to new partnerships and opportunities. We’re excited to grow our presence in this respected market and deliver even more value to our clients, helping them succeed with our high-performance products,” said Yevhen Krazhan, GR8 Tech CBDO.
Last year, GR8 Tech obtained a B2B gaming supplier license from Peru’s Ministry of Foreign Trade and Tourism, marking its expansion into the Latin American market. Both licenses strengthen GR8 Tech’s global presence, positioning the company to forge strong partnerships in competitive gaming markets.
Join GR8 Tech at ICE 2025 to explore the latest advancements in iGaming. Discover innovative solutions, gain industry insights, and learn how the company can support the growth of your business.
The post GR8 Tech Granted Recognition Notice from Malta Gaming Authority appeared first on European Gaming Industry News.
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