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Jerome García January 31, 2024 2 min read
PlayGreen Secures $6M Funding Round for LatAm Expansion
The sports betting and media company confirmed it plans to use the funds to fuel its expansion in the region
The fast-growing Brazilian gaming and sports media company, PlayGreen, was founded back in 2020. Aiming at disrupting the betting sector in Latin America, the company has been growing its offering and expanding its footprint in Brazil, as well as Ecuador.
Earlier this week, PlayGreen announced another important achievement after closing a multi-million funding round. The company revealed it raised $6 million within its latest round which was led by Vice Ventures, a venture capital fund.
The latest funding round is expected to propel PlayGreen’s growth. The company anticipates using the funds to improve its offering, including by launching live-streaming capabilities and engaging new features. Moreover, PlayGreen plans to seize new opportunities, growing its footprint within the sports betting vertical across Latin America.
Including the latest funding round, the company has so far raised $9.5 million. Currently, PlayGreen has nearly 50 employees but amid its expansion in Ecuador, the company confirmed its intention to grow this number further.
Lots of companies have identified the potential of the betting sector in Latin America. Sports fans in the region are recognized across the globe for their dedication to different sports teams and franchises. This provides a perfect ground for betting operators to flourish within the market.
The Recent Funding Round Brings Excitement to the Duo
Catharine Dockery, Vice Ventures’ general partner, shared her excitement about the latest funding round. She was quoted by GamesBeat, explaining that the company is thrilled to continue its collaboration with PlayGreen and propel its expansion. “Vice Ventures is looking forward to continued partnership with PlayGreen as they enter into their next stage of growth,” she explained.
“The future of PlayGreen will be shaped with our audience in mind, and this new round of funding will help us continue growing throughout Latin America to achieve our mission.“Nathan Dionne, CEO of PlayGreen
Nathan Dionne, PlayGreen’s CEO, was also excited about the recently secured $6 million funding round. He predicted that this cash injection would propel the company’s expansion in LatAm while continuing to shape its product. Finally, Dionne added that PlayGreen is excited to collaborate with a trusted partner such as Vice Ventures, a company that has distinct expertise within the global sports betting vertical.