Games24x7 Raises $75 Million in Malabar-Investment-Led Funding Round

Games24x7 is an Indian online gaming platform that offers India’s largest rummy platform, second largest fantasy platform, and other games. The company is a pioneer in the online gaming industry that, with exceptional acquisition and retention metrics, has built a highly profitable business.

Additionally, Games24x7 has continuously improved on its retention metrics in more ways than one, which is pretty impressive, says Sumeet Nagar. The company has headquarters in Mumbai but has branch offices in New Delhi, Philadelphia, Bengaluru, and Miami.

Economists Bhavin Pandya and Trivikraman Thampy founded the company in 2006; it became one of India’s 100 unicorns in 2021. In August 2021, Games24x7 invested in CricHeroes, a performance analytics platform that focuses on the ecosystem of grassroots cricket.

The investment, led by Malabar Investment, yielded a whopping $75million, thus valuing the gaming platform at $2.5 billion. Pandya stated that the company plans to use the investment funds to accelerate user growth and do better in business.

The company will focus on its existing businesses to scale it to bigger success while looking at launching more games. Games24x7 plans to diversify its skill gaming portfolio, launching games for the Indian and international markets alike.

Furthermore, says Pandya, the company will actively search for more investment opportunities to build synergies and invest meaningfully in them. Then, it will work with the investors, guiding them through the experiences of Games24x7 or learning from them.

Co-founder, Thampy, expressed that the company is extremely happy partnering with Malabar Investment and witnessing Tiger Global and Raine Group’s reposed faith. The Malabar Investment is the testimony, says Thampy, to Games24x7’s excellent performance and India’s potential as a digital skill-gaming market.

Furthermore, the investment is proof of the company leadership team’s data science capabilities, striving for excellence, thoughtfulness, and rigor. Raine was Game24x7’s financial advisor for this funding round, partnering with it as it drives innovation as a leader in the industry.