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Eneba raises $8m in funding

The investments will be used in product development as company works to expand into the US and other key global markets.

We are thrilled to be backing Vytis and Žygimantas. We’ve been impressed by their ability to execute at such speed as their company quickly scales, and to drive an incredible product with a unique value proposition for gamers. It also could not have come at a better time. We are excited to support one more team from the Baltics that has a clear ambition to lead their sector globally.

Donatas Keras, partner at Practica Capital

Eneba is a one of the world’s fastest growing marketplaces for gamers, launched in 2018 by two Lithuanian school friends, Vytis Uogintas and Žygimantas Mikšta. The platform has seen rapid growth in the last two years since its launch, hiring 130 employees and reaching 26 million unique users largely from European countries such as the UK, Germany, Lithuania, Spain, France, and Poland. Nowadays the company provides a marketplace for gamers to safely purchase everything they need for the world’s most popular games.

And now Eneba is happy to announce it has closed an $8M round of funding from Practica Capital and InReach Ventures, the AI-powered venture capital firm, with contribution from FJ Labs and a group of established Angel investors including Mantas Mikuckas, COO of Vinted. This funding is described as a ‘combination’ of a Seed and Series A round.

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