• Saudi e-gaming marketplace Legends Gaming has secured SAR 4.5 million ($1.2 million) from 674 investors via crowdfunding platform Scopeer, bringing the company’s overall valuation to SAR 13 million ($3.5 million).
• It plans to deploy the fresh funds to invest in marketing and develop its platform.
• Founded by Moath Al Mhemed, Legend Gaming develops its own e-sports products and sells them directly to its users. It also manages and hosts e-sports tournament platforms.

In its quest to become the largest e-gaming marketplace in Saudi Arabia, Legends Gaming has secured SAR 4.5 million ($1.2 million) from 674 investors via crowdfunding platform Scopeer, bringing the company’s overall valuation to SAR 13 million ($3.5 million).

The startup’s recent fundraising comes hot on the heels of its acquisition of Hopley, a social gaming platform. With the newly acquired funds, Legend Gaming plans to invest heavily in customer acquisition and scale its local operations.

Founded by Moath Al Mhemed, Legends Gaming develops its own e-sports products and sells them directly to its users. It also manages and hosts e-sports tournament platforms. The startup claims that 300,000 users nationwide have downloaded their app, 60,000 of whom are monthly active users.

As the region’s online gaming industry continues to grow, so does the interest from investors. Last year, startups working in the e-gaming vertical attracted $12.5 million in funding, with Jordan’s Tamatem leading the way with a $11 million round raised back last November. 

Saudi Arabia, in particular, looks to become a regional hub for online gaming, with the government committing to invest up to SAR 30 billion in e-sports and online gaming companies.