LinQ Raises $2.3M to Drive RMG Growth
Irish fintech startup LinQ has raised a further $2.3 million in seed capital as it aims to expand into the online real-money gaming market.
LinQ has now gotten a total of $3.8 million from two seed rounds. (Source: QuinceCreative, Pixabay)
LISTEN TO THIS ARTICLE:The funding round saw participation from a group of investors, including a16z SPEEDRUN, which led the initial seed round, Drive by DraftKings, Sharp Alpha Advisors, and MiddleGame Ventures.
Combined with the $1.5 million it secured in the initial seed round, LinQ's total capital now stands at $3.8 million. The company plans to spend the money on supporting mobile developers in entering the Real Money Gaming (RMG) market.
LinQ provides an all-in-one platform for top mobile game publishers to transition into the real-money gaming industry. It provides the necessary technology and industry know-how to ensure a rapid, secure, and scalable entry into the RMG market.
By handling compliance, operations, geolocation, and payment processes across multiple jurisdictions, LinQ enables developers to create engaging games quickly and efficiently. The company promises to launch developers' games in as short as four weeks.
LinQ has successfully launched in the US gaming market and expanded into 12 European countries. The company has also signed strategic deals with Mamboo/My.Games and Azur Games.
We see first-hand the challenges casual gaming studios face as they search for new monetization streams amidst rising acquisition costs in mobile gaming, however the real money gaming sector comes rife with nuanced regulatory and technical complexities. LinQ's platform solves these challenges, allowing studios to efficiently tap into this rapidly growing sector offering a massive opportunity for studios to cross-sell existing, large free-to-play customer bases.
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RMG Market Poised for Explosive Growth
According to LinQ, the global online Real Money Gaming (RMG) market was valued at $13 billion in 2023 and is expected to experience rapid growth, reaching $40 billion by 2028. The company's co-founders believe that the RMG sector holds the most promising growth prospects in the gaming industry for the foreseeable future.
Mobile gaming faces challenges, with many once-successful games struggling to maintain net-positive unit economics. While RMG stands out as the only growing category, there is currently no other working solution for top game developers to enter it quickly, except LinQ. We can provide all the tools and the legal support they require.
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