Zupee has raised $30 million at a pre-money valuation of $500 million in Series B funding round. This round of funding has been co-led by Silicon Valley-based WestCap Group and Tomales Bay Capital, along with the participation of Matrix Partners India and Orios Venture Partners.
This round comes within six months of company’s Series A round, which had valued the company at $100 million. Some of the other investors of Zupee include WestCap Group, Matrix Partners India, Smile Group and Orios Partners. The company has an existing user base of over 10 million users. This new round of funding will be used to enable scaling efforts through expanded product portfolio, deepening market reach and hiring global talent.
Founded in 2018 by Dilsher Singh and Siddhant Saurabh, Zupee’s game portfolio has innovative gaming formats of multiple popular board games. The flagship gaming app hosts live trivia quiz tournaments and has seen over 250 million gameplays.
Dilsher Singh, Founder and CEO, Zupee said, “Games inherently celebrate the journey and nurture self-expression. That’s what I am committed to build with Zupee - an organisation which enables people anywhere in the world to enhance their intrinsic happiness through games. We innovate to ensure our games provide an intersection between skill and entertainment, enabling our users to earn while they play.”
“WestCap remains a key strategic investor and operating advisor to Zupee and we are increasing our interest again as part of this most recent funding round,” commented Laurence A Tosi, Founder and Managing Partner of WestCap and early investor in Zupee.
“The enduring appeal of the Zupee games brings engagement, enjoyment and empowerment to the widest audience of any gaming platform in the market. This funding will enable the Zupee team to invest further in innovation, expand its suite of games and aggressively pursue international expansion. Zupee has exponentially accelerated its growth over the last 12 months, making them one of the largest and fastest growing game companies globally.”