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The business concept of the esports company G-Loot is to enable esports competitions for everyone, no matter where in the world you are and what game you play. By participating in user data, G-Loots, which calls itself an esports platform, connects players with each other so they can compete for prize money.
Recently, it became clear that the company is raising 500 million crowns from various well-known investors, including Swedbank Robur, Norron, Celox, CNI Nordic.
– Registration was completed in a few days and it feels really fun to be able to close at 500 million, says G-Loot CEO and founder Patrik Nybladh.
G-loot started expansion As early as November last year, when SEK 25 million in investment money was raised to develop the business. The fact that they are now raising another 500 million kronor means that it will be the biggest e-sports investment ever, according to the CEO.
The money will go towards making the competitions even more accessible to players around the world. According to Patrik Nybladh, the esports industry has previously only made competitions possible for a few people at the absolute top tier, something that he, through G-Loot, wants to get involved and change.
– Previously, only those who are absolutely the best in the world have been able to compete in esports competitions, otherwise you have not had the opportunity to participate. Our goal is that every esports player in the world can participate and compete, no matter what game you play. It is a question of democratization, he says.
G-loots founder and CEO Patrik Nybladh believes that the esports industry will continue to grow.
Patrik Nybladh does not want comment on how much the company is valued at, but according to DN information, this is around SEK 2 billion. They are now planning an initial public offering.
– The board has set out in writing an ambition to list the company within twelve months, says Patrik Nybladh, who believes that many outsiders, who don’t play games themselves, understand how big the world of esports is.
– Many combine esports as a sport, but there is as big a difference between two esports games as there is between darts and American football. Esports are growing across all verticals and I am convinced it is an industry of the future to invest in, says Patrik Nybladh.
Read more: More Allsvenskan clubs invest in e-sports 2020: “Sick a lot of money”
