The company will use this funding in the next phase of growth to expand the team and deliver its platform to the game’s world.
Co-founded in 2019 by CEO Matt Frenchman, the Sugar prides itself on its best in class data science, credit, business development and technology team. Its primary product is SugarBoost, which is a data-driven marketing loan to scale up a studio’s revenues. In addition, the company also offers SugarFlow, which gives studios early access to their digital revenues and SugarCap, which advances the studios their VGTR credits (video games tax relief, an HMRC rebate similar to R&D credits), which can normally take months to process.
We’re so excited to be working with Passion and delighted to have expert fintech investors on board. Like us, Passion sees access to finance as a big problem in the games and apps world. With this round of funding, we can focus on developing our platform, growing the team and ultimately giving studios quick and easy finance to scale up.Matt Frenchman, Sugar CEO
Now Sugar is announcing the closing of its pre-seed financing round to further develop its platform, which provides marketing capital to studios with positive unit economics to take them to the next level. The financing round was led by Passion Capital and included participation from Velo Partners as well as strategic angel investors, including Victoria van Lennep of Lendable. UK startup is currently focused on UK studios, but it plans to expand into Scandinavia and the US within the next few years.