Fnatic, One of the Largest eSports Brand, Raises USD 17 million for Asian Expansion!
June 15, 2021
Fnatic had recently withdrawn a some of its teams from a few Asian countries.
Fnatic is an eSports organization and brand that has been in the game for almost 17 years! While they have had their ups and downs, they still continue to dominate the world of eSports with the best teams in some of the most popular eSports like CS:GO, League of Legends, DoTA2, Apex Legends, FIFA etc. They also have a long list of wins and achievements over the years most of them in CS:GO and League of Legends.
Even though they have had quite a good presence in Asian countries, they have now decided to expand into Asia. Mostly possible due to investments from Japanese company Marubeni, the company hopes to expand its Japanese and Asia-Pacific eSports markets. This will also come with a new strategic partnership that will incorporate the expansion of Fnatic’s base of operations in Japan and support for Fnatic’s Rainbow 6 Siege team, which plans to relocate to the country.
Marubeni’s investment in Fnatic builds upon twelve months of growth, including an 80% year-on-year increase in revenues year-to-date and expansion as a high-performance esports brand. Fnatic will now strengthen its position in the rapidly growing esports market, which esports and game data firm Newzoo anticipates will generate $1.08 billion in revenues in 2021.
“We had a lot of inbound after our crowd raise and decided to advance our future raise now to speed up our expansion as a performance focused brand,” said Sam Mathews, CEO of Fnatic. “We’re moving into Japan and launching digital products alongside our continued investment into advanced esports equipment.”
As for gaming during the pandemic, esports had to make the transition from physical to digital-only events.
“The digital transition has been good for us, never before has more people played and competed online,” Mathews said. “People made friends, families could be social with other houses, all over games on the internet. Viewership has skyrocketed and ultimately more acceptance than ever onto esports as traditional sport athlete”
Fnatic’s esports equipment line grew 52% in 2020. Fnatic has also expanded its esports teams globally, with a worldwide squad of 40 pro gamers across eight games.
Image Courtesy: HLTV