G-Loot secures $56M in funding round

Swedish esports start-up G-Loot has revealed that it has secured $56M (£43.2M) in its latest funding round.

The online esports platform is said to be preparing for expansion across gaming platforms and into other markets.

G Loot secures 56M in funding round - G-Loot secures $56M in funding round
Credit: G-Loot

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Founded in 2015, the platform is the parent company of online tournament platform Global Loot League, which hosts a range of online and offline tournaments – some of which have been in partnership with the likes of PUBG Corporation, Tencent, and Electronic Arts.

Patrick Nybladh, CEO of G-Loot, commented on the investment in a release: “We’re very excited to be taking this next step. 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.”

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Alongside expanding its presence in North America, the capital will be used to prepare the platform’s entrance into console gaming, further growing its audience. “In the future, we want esports to be available to any gamer, in any game, on any device, anywhere, ” Nybladh added.

Esports Insider says: This amount of capital is huge for many industries, not just esports. G-Loot has become a prominent tournament platform, and with this round of funding, it has the opportunity to extend its offerings across the globe.

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