Sanlo Raises $3.5 Million To Help Creators Turn Their Games And Apps Into Long-Term Successful Businesses
Sanlo Raises $3.5 Million To Help Creators Turn Their Games And Apps Into Long-Term Successful Businesses
05/12/21, 2:00 PM
Location
san franciscoMoney raised
$3.5 million
Round Type
seed
Sanlo, a new company that empowers gaming and app companies with financial products to help them run healthy, sustainable businesses, today announced $3.5 million in funding. The oversubscribed round was co-led by Index Ventures and Initial Capital, with participation from LVP, Portag3 Ventures and XYZ Venture Capital. It also included prominent angel investors and operators who focus on gaming and consumer technology, such as Kristian Segestrale, as well as fintech, such as Gokul Rajaram and Charley Ma. As part of the round, Initial Capital Co-founder and Partner Ken Lamb became a board director while Index Partner Mark Goldberg and XYZ Managing Partner Ross Fubini joined as board observers.
Company Info
Location
san francisco, california, united states
Additional Info
When Sanlo determines that the business could benefit from the deployment of capital, the startup assists by offering financing. Caliujnaia said the company carefully selects businesses to work with and regularly checks in with them to allow for close collaboration. The company has also helped a subscription consumer app developer that wanted additional financial bandwidth to bring economy designers on board to tighten monetization. Sanlo then provide companies with access to capital.Image Credits: Sanlo As for the new funding, Caliujnaia said Sanlo will use the money to create more products for developers and to bring on more people to grow its 15-person team.“The plan is to build out more products and to build out the team,” Caliujnaia said. In one instance, Sanlo says it helped a large game publisher that was looking to consolidate and gain visibility into cash flows from multiple platforms. She noted that although there are other companies that are focusing on other verticals in ecommerce or SAAS, Sanlo is focused on gaming and consumer apps.“We’re a technology company, not a fund,” Caliujnaia said.