Tencent leads $46M package for Türkiye's Flow Games
What's the deal? Turkish mobile games developer Flow Games has secured a $46 million funding package led by Tencent, according to a source familiar with the matter who spoke to PocketGamer.biz. About three-quarters of the sum comes from the Chinese tech giant.
What's the company? The Istanbul-based studio is behind Smash Fest, a physics-based mobile shooter. The deal marks one of Tencent's largest investments in a studio from Türkiye, excluding full acquisitions.
Why now? Smash Fest has grown fast. Downloads jumped from more than two million in June to 10.2 million in July, a 343% increase, according to AppMagicDealroom has a profile for this one. Try Dealroom → estimates.
The numbers: Estimated player spending climbed from $692,000 in June to $3.4 million in July. More recent estimates put the game's gross lifetime player spending at almost $8.9 million — $8.3 million from iOS and $526,000 from Android — with daily spending of $35,000 to $50,000 over the past month.
A source said advertising accounts for most of Smash Fest's revenue, meaning overall earnings are likely substantially higher than player spending alone indicates.
The signal: Tencent keeps betting on Türkiye. It previously led a $25 million Series A for Istanbul-based Circle GamesDealroom has a profile for this one. Try Dealroom →, and its subsidiary MiniclipDealroom has a profile for this one. Try Dealroom → acquired Turkish studio MasomoDealroom has a profile for this one. Try Dealroom → in 2019. The deals underline its interest in Turkish developers, from early-stage studios to established businesses.
Read more: pocketgamer.biz
Image credit: Generated with Gemini
