News

G-Loot secures investment of half a billion SEK-one of the largest esports fundraises globally

Now the Swedish start-up is getting ready to expand its service across gaming platforms and create a strong, global brand.

Swedish esports start-up G-Loot has announced that it has successfully closed a financing round of SEK 500M (approximately $56M), one of the largest esports platform fundraises globally. Now the company is focusing on growing the player base and expanding across gaming platforms.

"We're very excited to be taking this next step," commented Patrik Nybladh, G-Loot's CEO. "In the coming months we'll be focussing on growing our player base, optimizing our service, and securing G-Loot as a strong and reliable brand in North America and worldwide. Work has already begun on expanding to new platforms which brings us closer to our mission of bringing an extra layer of excitement to every gaming experience."

The gaming industry already generates double the revenue of film and music combined 1, and just as there have been great strides in on-demand cinema, television, and music services over the last decade, there is now a strong and growing demand for 24/7 esports content.

"There are currently over 2.6 billion active gamers worldwide but the esports scene is open to just a tiny percentage. G-Loot's PC app not only lets users play challenges online whenever they want, its micro-tournament and challenge model is more inclusive and accessible than traditional tournaments, even to casual players" said Nybladh. Thanks to this broad appeal, the company has witnessed significant growth on its PC platform which lets users compete in skill-based challenges for prize money.

"In the future, we want esports to be available to any gamer, in any game, on any device, anywhere." With the latest funding, G-Loot takes another step towards this goal. G-Loot's technology means that it doesn't need to be directly integrated with the games it supports and could be available for new titles just weeks after they are launched. The company is also preparing to enter the world of console gaming, bringing 24/7 esports to an even wider audience.

All of the major shareholders supported this transaction; Swedbank Robur, Norron, CNI, Inbox Capital and Celox. Carnegie and Goldman Sachs International acted as placing agents to G-Loot.

Stockholm, Sweden, 7 October 2020

NOTES TO EDITORS

Contact information

Website: https://gloot.com/press-release
Press assets can be found at: https://investor.gloot.com/en/newsroom

For additional information please contact:
CEO Patrik Nybladh, Patrik@gloot.com, +46 73 963 21 75

About G-Loot

G-Loot was founded in 2015 in Stockholm, Sweden, by gaming enthusiasts who sought to democratize the competitive esports scene. As well as the G-Loot PC app, the company also runs GLL, which organizes online and offline tournaments with partners such as EA, Garena, Tencent, Lenovo, and PUBG Corporation.

How G-Loot works

Trailer: https://youtu.be/qx2gPF5C8po

G-Loot lets users compete in esports challenges in the games they already own. During gameplay, the G-Loot PC app runs in the background. It monitors game stats such as kills, wins, losses, and details such as accuracy and which weapon is used. When a player enters a G-Loot challenge, it is this data that determines the rankings and winners. G-Loot users never have to compete directly with each other, so everyone receives an equal playing field no matter the difference in skill levels. Players can choose to compete against others (either 1v1 or in an open micro-tournament) or test their own skills in solo challenges.

G-loot charges an entry fee for each monetized challenge and takes a percentage of the prize money.

Sources

1 Newzoo forecast for gaming revenue. Statista forecast for TV and global box office revenue. IFPI actual data for global digital music revenue.

Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting for G-Loot and no one else in connection with the placing and will not be responsible to anyone other than G-Loot for providing the protections afforded to clients of Goldman Sachs International, or for giving advice in connection with the placing or any matter referred to herein.

2020-10-07

Now the Swedish start-up is getting ready to expand its service across gaming platforms and create a strong, global brand.

2019-12-23

We are thrilled that EA has selected G-Loot with its brand GLL for its first Apex Legends Global Series - The First International Esports Program for the Franchise.

2019-07-19

This week, 16 of the world's best teams in the game PLAYERUNKNOWN'S BATTLEGROUNDS (PUBG) will face each other to compete for $300,000. All eyes will be on the premier esports event in Stockholm, GLL Grand Slam: PUBG Classic. Millions of viewers across the globe will cheer on their favorite esports teams as they fight for survival throughout the course of three days (July 19-21).

2019-03-14

Today, Stockholm-based esports company G-Loot, with its Battle Royale brand GLL, announces its partnership with PUBG Corporation (PUBG Corp.) to host a new PUBG Classic event, GLL GRAND SLAM: PUBG Classic. The multi-regional tournament for PLAYERUNKNOWN'S BATTLEGROUNDS (PUBG) will be held in Stockholm from July 19-21, 2019. GLL is one of the largest platforms and tournament organizers for battle royale esports competitions. With the GLL GRAND SLAM, the company is looking to attract a worldwide audience by organizing one of the largest tournaments in PUBG esports that includes 16 top teams from North America, Europe, Oceania, and Latin America.

2019-03-05

Swedish esports company G-Loot has secured 25 million US dollars, approximately 230 million SEK. This is one of the largest investments ever made in a European esports company. The funds raised will be devoted to increasing the pace with which competitions with cash prizes are offered in PC and mobile gaming to more players globally. The major current owners, including Swedbank Robur and the Nordic Asset Management company Norron, have participated in the heavily oversubscribed emission.

2018-08-10

This weekend it's time for the Grand Final of GLL Season II in one of the world's largest games: PlayerUnknown's Battlegrounds. The Grand Final of the league which will be held at Nobelberget in Stockholm, August 10th-12th, will feature the top 16 teams from the Western world that have qualified through the regular season that has been online. Millions of viewers are expected to follow the final where the players will compete for a prize pool of $100,000 USD.

Subscribe