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VENTURCAP, GRUPOITNET AND OTHERS INVEST €420,000 IN TUSJUEGOS.COM FIRST FINANCING ROUND.
Tusjuegos.com, the Spanish video games online sales platform through legal downloads, has achieved a €420,000 initial investment. The venture capital firm VenturCap has led the round, along with the creators of the company (Grupo ITnet, Korner Entertainment and Lunar Investments.
Tusjuegos.com is the first gaming e-commerce through legal downloads portal in Spanish. The company’s aim is to reverse the current buying habits of video games consumers in Spain and Latin America to reach the U.S. and other countries models like Britain and Germany.
In order to expand the business to Latin America and southern Europe as well as to increase marketing activities, Descargas Online SL, owner of Tusjuegos.com is negotiating a new financing round amounting €300,000, which is expected to be closed in the coming months.
To lead this expansion and strengthen the business in Spain, Grupo ITnet and Korner Entertainment, company’s promoters, have appointed Jaime Ferré as Descargas Online CEO, replacing Ramón Farrell, who will continue cooperating with the company as adviser and partner. Ferré has a long experience as a creator and promoter of new projects in Internet world, and is a Grupo ITnet shareholder since 2005, having driven companies like OcioMedia or Aztive Mobile, among others.
Download free the 2011s1 Venture Capital in Spain report (Spanish language), with the main figures and details of 121 deals. Also free access to 2010 VC report (Spanish language).