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Paytm First Games to raise USD 25 million

Aug 2, 2019 by The Passage Team
Paytm First Games to raise USD 25 million

Paytm First Games, one of India’s leading gaming destination, is in talks with investors to raise USD 25 million. The funding will be used to leverage the technology platform and building e-sporting events. The company also has plans to increase the team size.

Paytm First Games boasts of an annual revenue run rate of USD 50 million. It offers more than 300 engaging games including fantasy cricket, fantasy kabaddi, fantasy soccer, rummy, battle center for games of skill, 8 ball pool, ludo, and live quiz.

Sudhanshu Gupta, COO, Paytm First Games, said, “The platform has grown multifold in last one year. We now have about 30 million users on our platform with half of them being monthly active users. On our paid games, people spend around Rs 4,000 on games like Rummy, while the spends are to the tune of Rs 400 in fantasy league, etc.”

The last cricket world cup precipitated a three-fold growth in the fantasy cricket game. "The World Cup has generated a phenomenal uplift in our cricket fantasy game called First Captains. We have a robust line up of innovations and product enhancements that we have released every week during the world cup and will continue to engage and excite our users in the weeks and cricketing seasons to come," said Gupta.

Paytm First Games, it is well positioned to dominate the gaming market and challenge the existing players like Dream 11. Paytm rebranded its gaming platform Gamepind as First-Games last June. Paytm is not the only fintech company with a gaming platform. Flipkart's PhonePe also ventured into gaming in partnership with a startup called Mobile Premier League (MPL). Google Pay also lets its users play in-app gaming which allows users to earn cashbacks, Business Today reported.

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

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