Today, Benelux-based (Belgium, Netherlands, and Luxembourg) esports and gaming agency META (formerly known as 4Entertainment) announced that it has raised a €1M EUR ($1.09M USD) investment to support the company’s growth. Investors that participated in the financing round included several executives from Benelux-based enterprises and a few celebrities, such as Belgian DJ’s “Dimitri Vegas & Like Mike” (a duo composed of the brothers Dimitri and Michael Thivaios) and Felix “Lost Frequencies” De Laet.
META stated that it will use the capital to expand its business activities through products such as new esports platforms, competitions, and collaborations. The agency currently runs the Dutch and Belgian League of Legends European Regional Leagues (ERL) in a partnership with the game’s publisher, Riot Games. Furthermore, the company organizes GameForce, a gaming trade show in the Benelux, works for a few esports organizations including G2 Esports, streamed the latest iteration of the #NotTheGP F1 tournament, hosted a FIFA tournament series for the Belgian sports news platform Sporza.be, and launched white-label platforms for clients such as the soccer club PSV Eindhoven.
The company’s growth is represented by a 57% increase in its annual revenues for its last fiscal year (which ended on June 30, 2019) to €2.2M ($2.4M) and a 142% increase in its annual gross margin to €315K ($343K) from €120K ($131K) in the previous fiscal year. In total, META generated a net profit of €7,832 ($8,537) for the period.
Editor’s note: An earlier iteration of this article incorrectly used the company’s gross margin of €315K ($343K) in place of its annual revenues, which were €2.2M ($2.4M). The article has been corrected to reflect the proper figures.
