June 1, 2008
Digital Media and Media
Equity financing for Nonoba from Mangrove Capital Partners
Popular online gaming community and game developer community to play, rate and share ideas with
Founded in early 2008, Nonoba was established by Oliver Kofoed Pedersen and Chris Benjaminsen, who had previously developed online games on the Danish portal Jubii.
The company operates as a gaming community to play games with friends, and compete for scores and honours; enabling to chat, discuss and rate the various games with other players.
In addition, the Nonoba’s community allows flash developers to upload games for others to play, rate, and share, as well as get together with other developers and discuss and share ideas and tips, and tricks about developing games.
Nonoba provides a new way to create, share and play flash games that combines a proven technology with the best of community benefits.
Taking a leap with the help of Mangrove Capital
In June 2008, a few months after its inception, Nonoba raised a multimillion Series A equity financing from Mangrove Capital Partners, a Luxembourg-based venture capital firm which is focused on investing in early stage information technology companies.
The proceeds of the fundraising were used to grow the company and turn it into a serious player in the market for online games and increase the numbers of websites using Nonoba from 10,000 to 30,000.
GCA Altium acted as sole advisor to the sellers.