BattleRiff takes SEK 6.5M.
BattleRiff, a Gothenburg, Sweden-based e-sport startup announced finalizing the raise of SEK 6.5M ($740k) in a new investment round. The company announced in February 2017 that it was looking for SEK 6-8M, offering pro-rata shares to existing investors.
BattleRiff, founded in 2014 by Mathias Lindmark, developed Battleriff, an internet service that gives gamers of all skill levels the opportunity to develop their skill and earn money through head-to-head challenges in popular online games, such as League of Legends, Smite, CS:GO etc.
The value proposition is aimed at players looking to solve the problem where they’re trying to find the motivation (whether internal or external) to spend the time needed to grow their gaming skills. Battleriff is not a game operator nor a game publisher as it acts as a fiduciary helping gamers to challenge each other for real money.
In 2016, BattleRiff raised SEK 8M ($940k) in seed money from almost 100 investors.