Winzo Games tops up $2 Mn investment from Stephan Pagliuca

Vernacular gaming platform Winzo Games on Friday announced that it has raised $2 Mn fresh investment from American PE investor and Bain Capital’s co-chairman Stephan Pagliuca. However, according to official statement issued by Winzo, Pagliuca has invested through his office Pags group. The statement probably implies that Bain Capital has no role in this investment.

Logo of Winzo Games

Pagliuca’s $2 Mn investment is a mix of primary and secondary investment. Out of $2 Mn investment, Winzo has used $1 Mn investment for conducting ESOP buyback of early investors and employees, as per the statement issued by the company.

This is Pagliuca’s first ever investment in India. He also reportedly happens to be one of the investors in American gaming giant Epic Games. Epic Games was recently in news for its ongoing lawsuit against Google and Apple.

The latest capital infusion is probably part of the ongoing series B round that was announced last month. Last month, the New Delhi based startup had announced that it has raised $18 Mn in the series B round. The round was led by Singapore based Makers Fund and Courtside Ventures. Existing investors Kalaari Capital and Bellerive Capital also participated in this round.

Commenting on Pagliuca’s investment, Saumya Singh Rathore, Co-Founder, WinZO said “We are thrilled to be backed by Steve, an investor of high repute in our growth journey. The kind of confidence exhibited by industry experts from across the globe is a testament to the scalable, sustainable and robust business we have built in a very short span of time.”

“It’s soul satisfying to be able to generate value through ESOP buyout for our early employees too. This is just the beginning of an exciting journey towards solving social entertainment for Bharat,” he added.

Founded in 2018, Winzo Games claims to be India’s largest gaming platform. Most of its customers hail from semi-urban and small towns. The platform is available in 12 different Indian languages and boasts very good market metrics including 25+ million registered users and over 1 billion micro-transactions per month.

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