Industry by Charlie Cater July 28, 2020 1.33K

Luckbox Raise $5M CAD in Funding Round

Esportsbook Luckbox has confirmed they have closed their funding round where they raised $5M CAD (£2.88 million).

This news comes ahead of Luckbox’s scheduled listing on the TSX Venture Exchange under the name “LUCK”. Luckbox expect to go live on the exchange this fall. The finding round was hosted in cooperation with Elephant Hill. Luckbox has many investors, most notably Luis Robles, a professional goalkeeper for David Beckham’s Inter Miami MLS team.

Quentin Martin, CEO of Luckbox spoke on the funding:

“The management team and board of directors have been working hard to prepare for the public listing. We have enjoyed positive discussions with the TSXV. Completed the Business Plan required for filing, draft financials are complete, with final audit sign-off expected by end of July. Ultimately, we anticipate receiving TSXV listing approval by early October 2020. Our management team believes that the esports betting market will continue to grow and that the Company is one of the bookmakers that will be leading the way globally.”

Luckbox has announced it will be recruiting for five positions within the company. These positions include a senior marketing role aimed to maintain and excel this year’s momentum. The esportsbook plans to scale its global marketing campaigns, acquire additional gambling licences and an odds provider to offer a B2B solution.

Martin continued in his statement to say: 

“In summary, Luckbox is pleased to have completed a $5.0M financing in connection with its go-public transaction by way of a business combination with Elephant Hill. During a challenging period while successfully meeting its Q1 and Q2 roadmap targets. We have made tremendous progress in 2020 and look forward to becoming only the second listed dedicated esports betting company on a public exchange.”

Given the exceptional rise in esports betting throughout the quarantine, the future certainly looks bright for the esportsbook. Luckbox offer many esports including CS:GO, DOTA 2, LOL, Overwatch, Call of Duty and many more. While they are always promoting offers too, such as “double your first deposit” and “combo bet cash back.”

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