Saudi’s Spoilz Games raises $700k in a pre-seed round

Saudi’s Spoilz Games raises $700k in a pre-seed round

Riyadh-based Spoilz Games raised 2.6 million SAR in a pre-seed funding round from angel investors. This 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.

“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,” Musab Almalki, CEO of Spoilz Games, commented.

Most of MENA’s youth population have grown up as digital natives, and gaming plays a huge role in their entertainment. 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-3, where games revenue accounted for $1.76 billion in 2021.

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