Swedish Gaming Industry Strengthens: MAG Interactive Raises $6 Million


We all know that gaming has become sort of a "must-do" thing in Finland with Supercell, Rovio, Grand Cru, Fingersoft, Gray Area and many others. That being said, Sweden is not to be discounted as Mojang and King are rocking the boat over there. Mojang has over over EUR 170 Million in revenues and King is getting ready to IPO. But now there is a new player in town - MAG Interactive that is reporting impressive growth and statistics.

As we have recently written, they have hit over 50 million downloads in their main title Ruzzle and recently launched QuizCross which is also picking up speed. Unlike many other mobile gaming studios, they did not go for Free To Play and choose to monetize through ad revenue and premium versions of the games.

Today, they are announcing a major investment of $6 Million Dollars, led by Nokia Growth Partners, which is their very first round of capital. They are already doing very well, but when we talked to Daniel Hasselberg, the founder and CEO of MAG Interactive, we came to understand that it was not about the money but more about having a strategic partner with whom they can grow the business and facilitate growth

Hasselberg told ArcticStartup that "Time spent in the game equals money for us. Over 50 000 years of gameplay and generating revenue. We are not in desperate need of cash at the moment. We have been looking for someone to join in and support us in taking the company to the next level."

The main title is available in 13 languages already but there is a lot of space for growth, the second title is also something that can be expanded into many languages and markets but of course the team will be working on additional titles to keep up the momentum.

We are excited that there is now a lot of very successful gaming companies in the region and perhaps it is now a race between Finland and Sweden and in addition to watching the two battle it out in Hockey, we can now see who takes the gaming trophy in the end.

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