Technology investor pumps fresh funds into Warwickshire gaming firm
A West Midland digital logistics platform that bridges the gap between publishers and resellers of video game content is planning growth after securing new funding.
Leamington Spa-based GENBA Digital has received an investment of £400,000 from early-stage technology investor, Mercia Fund Management.
The Warwickshire-based funder has already pumped funds into the business and since its last investment in August last year, GENBA has continued to make commercial progress.
It has developed partnerships with high-profile AAA – an informal classification used for video games with the highest development budgets and levels of promotion – publishers and well known digital e-tailers on a global basis.
GENBA is a digital supply chain services business that focuses on delivering a comprehensive suite of services and tools to enable the secure delivery of digital content and codes in the video games market.
New development features have also been added to the main platform, including further automation, key stock management, real-time reporting and analytics.
With this latest funding, GENBA said it intended to hire nine new employees to support with its various operational and financial functions, as well as the strategic development of the platform and its services.
The business was founded by Claire Ralley and Murray Rigluth, who are both veterans of the UK gaming industry with experience spanning licensing, partnerships, systems design and security.
Ms Ralley said: “We are delighted to have completed a further round of funding with Mercia Fund Management. It’s great to find an investor who shares the strategic vision of GENBA and is willing to go the extra mile to make it happen. We have seen unparalleled year on year growth and are determined to push even harder in the evolution of our journey.”
Mike Hayes, Investment Director and Head of Digital Entertainment at Mercia Fund Management, said: “GENBA represents a strong investment opportunity for Mercia and we are looking forward to supporting the company as we continue to diversify our Digital & Digital Entertainment investment portfolio.
“We remain highly confident in both Claire and Murray as well as the significant market opportunity that the company is addressing.”
