London-based esports giants Fnatic have raised $10m and announced a campaign that will allow fans to invest in the organization.
Having raised almost $35m to date through closed investment, Fnatic are opening things up with an initiative on crowdfunding platform Crowdcube.
The campaign has been devised to represent “Fnatic’s ambition to innovate and continuously enhance gaming performance while making it accessible to all.”
The organization is looking to raise $1m from the public when things kick off on November 19.
The latest round of investment for Fnatic includes participation from firms Beringea, Unbound, LVL 1 Group, JHD, and internal management.
Fnatic proved that they’re looking to do new things in esports earlier in November 2020, bringing Italian coffee brand Lavazza into the industry for the first time. The partnership centers around Fortnite player and streamer Giorgio ‘POW3R’ Calandrelli, who’s from Italy himself.
They have made a few other impressive moves in the past year too, including deals with BMW, Gucci, and Hello Kitty.
— FNATIC (@FNATIC) August 5, 2020
“We’ve been looking to conduct a crowdfund campaign for a while,” said Sam Mathews, Fnatic’s founder and CEO. “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.”
Crowdcube has hosted crowdfunding campaigns for other UK-based esports companies, with GINX Esports TV raising £569,090 and jobs website Hitmarker hitting 250% of their target with a total of £200,000.