Saudi Arabia-based leading mobile gaming studio and publisher, Spoilz Games has raised $693,240 in its pre-seed investment round from angel investors.
According to the statement, the investment will allow the company to further develop and publish high-quality, entertaining games that create memorable experiences for a global audience of gamers, as well as sustain its efforts to expand worldwide.
Most of the Middle East and North Africa’s (MENA) youth population have grown up as digital natives, and gaming plays a huge role in their entertainment. According to the statement, “Thanks to the high penetration of smartphones and the internet, gaming has evolved dramatically in the last decade, particularly in Saudi Arabia, the United Arab Emirates, and Egypt referred to as MENA, where games revenue accounted for $1.76 billion in 2021.”
Spoilz Games CEO Mr. Musab Almalki said that, “MENA’s gaming industry is expected to grow rapidly in the next few months, creating a need for quality content to meet users’ expectations. This fund will enable us to grow and publish games that compete globally.”
Since its inception in 2020, Spoilz has set its sights on this growing market. With its limitless strength to think big and be imaginative, it has endeavored to build partnerships with publishers and studios and invested in a talent pool across the community to publish fun games for the world’s young and fast-growing population of gamers.
Saudi Arabia’s games market accounted for the highest value among Arab Gulf countries in 2021, firmly positioning the kingdom as the gaming powerhouse in the MENA region. This growth was driven by the government’s support of this sector, as it seeks to diversify its predominantly oil-dependent economy.