Paytm First Games is in discussion with investors to raise $25 million for further expansion. As the portal plans to add more games for users, the funding will be invested in its technology platform and for building e-sporting events. It also plans to double down on its current team size of over 150 people.
Within a year of its launch, Paytm First Games has become one of India’s fastest growing gaming portals with an annual revenue run rate of $50 million. It offers more than 300 engaging games including the popular ones like fantasy cricket, fantasy kabaddi, fantasy soccer, rummy, battle center for games of skill, 8 ball pool, ludo, and live quiz. It’s fantasy cricket game, ‘First Captains’ received overwhelming response from users during the recently concluded Cricket World Cup and helped it grow 3x during the tournament.
Sudhanshu Gupta, COO, Paytm First Games, said, “The platform has grown multifold in last one year. We now have about 30 million users on our platform with half of them being monthly active users. On our paid games, people spend around Rs 4,000 on games like Rummy, while the spends are to the tune of Rs 400 in fantasy league, etc.”