UK based financing platform Sugar acquired £1.5 million pre seed funding on 2nd November 2020.
The funding round was led by Passion Capital with participation from co-investor Velo Partners and few Angel investors. This pre-seed funding will help the enterprise in growing their team. They are also planning to use this for building the platform and scaling their business in the UK before they begin to do so in Scandinavia and the United States in future.
Sugar is a platform that offers financing solutions for the digital economy to provide investment for app and gaming studios. They have a whole bunch of flexible debts and products that act like a booster for gaming studios that help them grow without the need of taking away any equity from the founders. The funds are provided quickly and without any complicated process so that businesses can focus on running monthly without any cash flow hurdles in the way. Sugar stands for “Scale up Your Games and App Revenue”. The live data analysis form the base on which Sugar provides financing to any studio which can be repaid over time with the growing revenues of the game or app. They just take an initial fee and the financing level can be increased as per the analytics of the game or app.
The products offered by Sugar
The financing platform has three products namely SugarCap, SugarBoost and SugarFlow. SugarCap is a product that helps in the financing of visit at refund to easily manage the outgoings. SugarFlow is involved in upgrading the digital store revenues to help with cash flow. SugarBoost is a fast and easy funding solution for growing for the various UA for user acquisition campaigns. The data driven approach followed by Sugar gives a flexible way to get financing when needed for the gaming and app founders.
The game founders have to do the minimum work and just ask for the funds and Sugar will find the best suited product according to their needs. They know the ecosystem and thereby understand how the game can gain a better audience. Sugar aims to onboard any studio and provide them funds within one day and their automated platform helps in all points related to studio’s data. This includes credit checks payments and app performance.
About Passion Capital
Passion Capital is an early stage venture capital firm founded in 2011. It is a partnership of entrepreneurs Eileen Burbidge, Robert Dighero and Stefan Glaenzer. The venture capital is headquartered in London, England. They primarily make investment in media and technology companies.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
