Luckbox has raised $3.8 million from investors during the first tranche of its latest funding round, the Esports betting platform announced.
The investment has been attained as Luckbox prepares to list on the TSX Venture Exchange this summer.
“It’s been a phenomenal first half of the year for us and that’s been reflected in the interest from investors,” Luckbox CEO Quentin Martin said in a statement. “We’ve seen a 500 percent increase in betting volume since March. Turnover has risen to almost 13 times that seen in November 2019, while deposits are up 10-fold since then.
“Esports is one of the hottest sectors anywhere right now and investors are clearly seeing the opportunity, especially with many alternative forms of entertainment badly affected by the coronavirus outbreak. We’ve been thrilled with the response so far and I’d like to take this opportunity to thank everyone who’s supported us so far — these are extremely exciting times.”
A second tranche has been announced and will close on Monday.
Founded in 2016, Luckbox is a fully licensed betting platform dedicated to serving the global esports community. The firm is set to become the second publicly listed esports betting company in the world, joining Esports Entertainment Group.
—Field Level Media