QLASH raises EUR 2.6 million in seed round
Original target of 2 million Euro, increased to accommodate excess demand; subscribers in the equity round include professional investors such as B Heroes (Italy) and Klambt Digital (Germany), business angels and sport stars.
Leading esports organization QLASH announced it raised EUR 2.6 million in a seed round. Investors in the round include business angels from the sports world such as the Italian UFC fighter Marvin Vettori, the former Italian volleyball world champion Francesca Piccinini, and the Spanish footballer Victor Camarasa (now playing at Real Betis); proving once more the increasing interest of sports stars in the world of esports. Business angels from the entertainment industry and professional poker players including Phil Hellmuth, Daniel Negreanu, Jeff Gross and Daniel Cates also joined the list of famous investors in the company.
The proceeds will be used for the development of the QLASH Community platform and for the expansion into new markets.
Luca Pagano, Co-Founder and CEO of QLASH, said: “All our hard work over the past 4 years has brought QLASH to the attention of esports fans and players worldwide. Already active in more than 15 esports, we will utilize the proceeds from the fundraising to expand our presence into new markets and to invest heavily in our proprietary community platform. We’re confident that this is the best way for us to further improve the gaming experience for our communities”.
Eugene Katchalov, Co-Founder of QLASH, added: “The esports market is growing and is having an extraordinary response, already passing $1B in revenues in 2021. QLASH is widely recognized among the top esports organizations in Europe and top 1 in Italy: its growing success demonstrates the attractiveness of their business and confirms the attention of investors in this entertainment sector”.
Founded in 2017, QLASH has recently won the Best Italian Team prize at the Italian Esports Awards for the second year in a row.
With a strong presence in Italy and Spain, the club is now expanding into the MENA region as well as into Latin America, markets where QLASH already enjoys local audiences thanks to the success of its Saudi, Egyptians, and Spanish teams.
QLASH has already developed strong partnerships with several key brands, including strategic agreements with football club AC MILAN and other sport teams.
With more than 20,000 monthly active users, and over 3,000 esports events already organized, the QLASH Community App (available both on iOS and Android) is the go-to destination for esport fans and amateur players willing to test their skills in a number of different games, including FIFA, Clash Royale, Fortnite, Brawl Stars, PUBG, League of Legends, Valorant and many others.