FunPlus raises $74m to boost global mobile gaming effort

Chinese mobile games publisher FunPlus has raised $74 million (€53 million) to help fund an effort to build a global mobile gaming company.

According to the website, the round of founding included Orchid Asia Group, GSR Ventures and Steamboat Ventures.

FunPlus said it would use the funding to build globally appealing games that combine the expertise of the Chinese publisher with the craftsmanship of Western game designers.

Andy Zhong and Yitao Guan founded the company in 2005 while Dan Fiden, a former venture investor at Signia Venture Partners, has been brought in as chief strategy officer.

“This round is going to take us to the next level,” Fiden said. “We want to be a developer-operator with a truly global reach. We want to be a China-based company that is successful outside of China.

“The game industry is going through an incredible transformation, and we want to be ready for it. When it comes to game services, I don’t think we’ve even scratched the surface on what is possible.”

The company said it has six million daily active users with the majority of revenue coming from Europe and North America. Its most successful game to date is Family Farm, which has more than four million daily active users.

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