Free-to-play game developer Dab Gaming secures £670,000 investment
Mercia Fund Management-led backing will accelerate roll-out of debut game BingoDab
Mobile gaming start-up Dab Gaming today announced it has received a total of £670,000 backing, led by a £150,000 Seed Enterprise Investment Scheme (SEIS) investment from venture capital firm Mercia Fund Management.
Founded in 2014, Dab Gaming builds mobile games on a ‘freemium’ model, in which users download games for free and are given the option of purchasing additional content.
Its debut game, BingoDab, is a real money-based social bingo game, currently available on iOS devices, in which players can challenge their friends over social media. Dab Gaming said it was looking to develop further free-to-play mobile games in the casino and sports betting verticals in the near future.
Since launch the start-up has concluded a sales agreement with Gibraltar-based real money casino specialist Nektan, which will see its games resold to consumers around Europe and the US.
The £670,000 investment into Dab Gaming comprised £520,000 backing from private investors, in addition to £150,000 SEIS funding from tech-focused venture capital firm Mercia Fund Management.
It will be used to accelerate the commercial roll-out of BingoDab as well as build and scale Dab Gaming’s business model more generally.
Darren Clarke, co-founder of Dab Gaming, said: “The funding from Mercia Fund Management provides the financial boost we need to launch our business-to-consumer venture and realise our growth ambitions. Marketing, user acquisition and app store optimisation are our main priorities leading up to the launch of our mobile free-to-play games.
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“In addition to this, the investment enables us to effectively support our team of developers, technical and marketing professionals.”