London esports firm levels up with Crowdcube campaign following $10m investment

A London-based esports specialist has launched a new crowdfunding campaign after securing multi-million dollar internal funding.

Fnatic has launched a new fundraise on Crowdcube after raising $10m in an internal funding round.

Founded in 2004 by Sam Mathews, Fnatic teams has since claimed more than 200 championships across 30 different games around the world.

Led by Beringea, the internal investment round also saw participation from existing investors Unbound, LVL1 Global, JHD as well as key management, and brings Fnatic’s total funding to nearly $35m.

The funding will be used to support the global growth of its esports brands and expand its proposition.

Sam Mathews, founder and CEO of Fnatic, commented: “We’ve been looking to conduct a crowdfund campaign for a while. This investment provides the perfect opportunity for our community, friends and enthusiasts to join our established investors and own a piece of Fnatic.

“Crowdfunding is a dynamic and increasingly popular way to fundraise as it provides an opportunity to transform our active and engaged community into investors by giving them the chance to get closer to our journey than ever before.

“We’re very excited to be working directly with our audience, partnering with them to shape the future of Fnatic, and of entertainment, sports and gaming performance.”

Karen McCormick, chief investment officer of Beringea, commented: “Esports is an industry experiencing explosive growth, and yet in many ways is still in adolescence.

“Having evaluated the industry from many angles, Fnatic was a relatively simple investment decision given the premier status of the brand, consistency as a true performance company, and growth and engagement of the fan base.

“The business has also become a global leader in a very capital efficient way, building a standout team while maintaining a clear focus on economics and profitability.”