MADRID, January 15, 2015 /PRNewswire/ --
Funding from The José Manuel Entrecanales Foundation to fuel international growth and enable PlaySpace to develop new games and continue to improve the adaption of its games for mobile devices.
PlaySpace, the Spanish social and casual games developer, announced today that it has secured a second round of funding, taking its total investment to date to $3m.
This latest round of funding has been secured through PlaySpace's existing investor Faraday Venture Partners, alongside new strategic investor The José Manuel Entrecanales Foundation, one of Spain's largest start-up investors. With this increase in capital, the company's shareholders now consist of Mola.com, PeopleFund, Faraday Venture Partners, José Manuel Entrecanales Foundation and a percentage held by the management team.
The social gaming sector has seen significant growth in recent years, with mobile gaming revenues predicted to exceed traditional console revenues for the first time in 2015. This latest round of funding will enable PlaySpace to not only consolidate its position within the Spanish mobile games market, but will also support its global expansion within key markets including the U.S. and Latin America region.
In addition, the investment will enable PlaySpace to increase its mobile development expertise to capitalize on the increasing trend for mobile gaming.
The company, that was founded by Enrique Dubois and Alfonso Villar in 2011 and was incubated and accelerated through Mola.com, is based in Palma de Mallorca. PlaySpace has over 25 employees and more than 10 million registered users in several countries. Furthermore, over one million international active monthly users divided over their 9 multi-platform games on Facebook, web, iOS, Android and Amazon.
Pablo Ventura, director of The José Manuel Entrecanales Foundation, said: "The video games sector has not been a traditional focus for the Foundation's investments. However, we believe in this project after having analyzed the amazing results they have had, their passion and commitment that the management team have shown over the last three years."
Alfonso Villar, CEO and co-founder of PlaySpace, added: "I am proud to be able to say that The José Manuel Entrecanales Foundation believes in the project and to have the support of our current investors Faraday Venture Partners. This second round of investment will help to professionalize all our internal processes as the company finds itself in a new stage in its life."
The José Manuel Entrecanales Foundation for Innovation and Sustainability was born in November 2009. Their principal objectives are the promotion of new entrepreneurial initiatives that contribute to the sustainable economic development by offering financial and technical support. Additionally, they are promoting an entrepreneurial attitude of students through their scholarship program "Emprende tus Prácticas". More information at: http://www.fjme.org
Is a group of executives and entrepreneurs that set up [Promotion of Innovation and Sustainable Development] Fomento de la Innovación y el DesarrolloSostenible (FIDES), formed by Jaime Castellanos, Daniel Entrecanales, Juan Ignacio Entrecanales, Ignacio de la Rica, Fernando Rodés and Manel Torreblanca, among others.
ABOUT FARADAY VENTURE PARTNERS
Faraday Venture Partners offers the best investment opportunities to its private investors network, which are mostly individuals. They seek investment for innovative entrepreneurial initiatives and enhance the companies they invest in on behalf of their partners.
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