Luckbox raises C$3.8m ahead of public listing

Esports betting platform Luckbox has raised C$3.8m in the first tranche of a funding round ahead of its public listing later this year.

The operator is preparing to list on the TSX Venture Exchange this summer and has announced a second tranche in response to the initial offering being oversubscribed.

The financing was co-led by Gravitas Securities and Beacon Securities and was eventually upsized from the initial range of C$2m to C$3m due to demand.

Luckbox CEO Quentin Martin described H1 2020 as “phenomenal”.

He said: “Esports is one of the hottest sectors anywhere right now and investors are clearly seeing the opportunity, especially with many alternative forms of entertainment badly affected by the coronavirus outbreak.

“We will become only the second publicly listed esports company in the world so our offering is an extremely rare opportunity.

“We’ve been thrilled with the response so far and I’d like to take this opportunity to thank everyone who’s supported us so far – these are extremely exciting times,” he concluded.