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Wednesday, July 24, 2024

Fnatic raises $17mn in Series B funding led by Marubeni

In what comes as a delightful news for avid esports enthusiasts in Asia, popular esports organization Fnatic has announced securing a whopping $17 million funding from the Marubeni Corporation.

The investment from the Japanese conglomerate will help Fnatic expand into the growing Japanese and Asia-Pacific esports markets. This will also enable the esports org to support their Rainbow Six Siege team on their plans of relocation to Japan.

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

The Japanese esports market is growing at a significant rate, with an expected increase in value of more than 250% between 2019 and 2023. More than 6.9 million people attended esports events in Japan across 2020, which is a 42% spike from last year.

Originally founded in 2004, Fnatic is currently one of the world’s most successful esports organizations. The org boasts over 40 professional gamers under it spread across eight titles.

Thumbnail: Josh Brdicko on Dribble

Sonu Banerjee
Sonu Banerjeehttp://www.talkesport.com
A fervent gamer and an eSports enthusiast. Loves reading, watching movies and playing games of all sorts.
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