Mobile game-to-RMG conversion platform seals $2.3m funding from Drive by DraftKings and Sharp Alpha
LinQ adds to $1.5m raise at the end of last year as it plans to strengthen its capabilities to push mobile developers into the RMG space
LinQ, a platform that allows mobile game developers to enter the real-money gaming (RMG) space, has raised $2.3m in a funding round.
The round, which featured Drive by DraftKings, Sharp Alpha Advisors, and Middle Games Ventures, follows a $1.5m raise at the end of last year, led by a16z SPEEDRUN, with the group also participating in the latest round.
The company has hubs in Dublin and New York and was co-founded last year by Dmitry Vysotski and Kevin Cubitt.
The business has already worked with the likes of Azur Games and Mamboo to bring RMG to mobile games.
LinQ claims RMG versions of mobile games can go live in as little as four weeks, with “all aspects of compliance, operations, matchmaking, geolocation, and native payments” managed by the firm.
The platform is live in the US, UK, and Europe, with plans to launch in Brazil and Mexico in the coming months.
Speaking on the funding round, Sharp Alpha Advisors MD Lloyd Danzig said: “The largest gaming publishers in the world are racing to launch new monetization features but are often hamstrung by complicated, location-specific compliance requirements that are expensive and complicated to adhere to.
“LinQ provides a turnkey, enterprise-quality, full-stack fintech solution so developers can focus on making great games and retaining customers.”
Cubitt added: Mobile gaming faces challenges, with many once-successful games struggling to maintain net-positive unit economics.
“While RMG stands out as the only growing category, there is currently no other working solution for top game developers to enter it quickly, except LinQ. We can provide all the tools and the legal support they require.”
EGR North America caught up with co-founders Vysotski and Cubitt to delve into the latest funding round.
EGR North America: Where did the idea for LinQ stem from?
Dmitry Vysotski (DV): At the time, back in 2022, we realised that free-to-play gaming was not growing, and RMG was in need of new mechanics.
LinQ’s mission is to enable real-life economies in games – with money, assets, transactions, and marketplaces. We help game producers to unlock new game mechanics, in a safe, secure, and compliant environment.
LinQ is building UGC payments and P2P transfers as a service, and believe these are the building blocks for a new wave, even bigger than free-to-play.
EGR North America: Can you explain why mobile game companies are looking to expand into the RMG space? And how LinQ provides the solution?
DV: RMG is the only category in gaming that is growing 30% year on year with a lot of potential, while free-to-play is in trouble. Hence a lot of gaming companies are looking for new revenue streams to monetize existing high-quality free-to-play games polished over years and with a massive audience, but in RMG format.
EGR North America: How do game companies’ IP then manifest in RMG? Is it a case of branded slots or the addition of RMG to the existing title?
DV: LinQ helps any gaming company to transform existing successful and polished titles into real-money games of skill within weeks. There is no limit on game genres, as long as a skill element is involved – it could be problem/puzzle solving skill, or physical skill.
EGR North America: What will this new capital raise be put towards?
Kevin Cubitt (KC): We realise that in order to build a successful real-money game of skill, you need four elements:
– great game play (expertise of gaming company)
– user acquisition at scale (expertise of gaming company)
– cash-in, cash-out, compliance (LinQ expertise, ever evolving with more payment rails and banks partnerships)
– user liquidity and player matching (LinQ is developing that expertise to help gaming companies with off-the-shelf solutions and services)
These are the areas we are developing, and funding definitely helps to accelerate this and other roadmap items. Watch this space.
EGR North America: What does it mean to receive backing from likes of Sharp Alpha, Drive by DraftKings, and a16z?
KC: We are excited to surround ourselves with market specialists, especially such thoughtful leaders in our space. We already see a lot of value from our partners on a daily basis, and look forward to building even stronger relationships with them and the industry.