WALNUT, Calif., January 14, 2021 (Newswire.com) - Internet Initiatives Development Fund (IIDF), Yellow Rockets.VC Fund, and 9 Angel Investors provided $470,000 to the Fantasy Invest app - the stock market simulator gameplay.
It's the second funding round for the company. This June, the company raised €50,000 from the Angels Band VC community, participating in EMERGE, the largest startup conference in Eastern Europe.
The app gamifies the stock market experience. It gives players the thrill of sports competition combined with the ups and downs of stocks.
The mechanics are similar to Fantasy Sports games, where players assemble virtual teams of real-world athletes. In Fantasy Invest, players gather fantasy stock portfolios. The app engages users in hourly, daily, or weekly stock contests based on real-time data. Each victory increases the user rating and brings him closer to the top of the Fantasy Leaderboard. Winning stocks also get players Fantasy Coins that can be redeemed for prizes.
Michael Gavrilov, Fantasy Invest CEO & founder:
"Fantasy Sports are a huge part of the US entertainment landscape. Fantasy mechanics are proven. People know how to engage in these types of games. Utilizing my previous success with building a multi-million fintech software company and my passion for fantasy sports, I've created a winning combo: a fantasy stocks game.
"We launched in April 2020. By the end of 2020, 80K unique players from 51 countries played 520K unique games on Fantasy Invest. Our goal for 2021 is 1 million players."
Ilya Korolev, IIDF managing partner:
"It's a pleasure to see Fantasy Invest as a part of our venture portfolio. The idea behind Fantasy Invest is simple and brilliant. To present the stock market as a game and to engage people is an idea with huge potential. I'm glad that we were able to support the project from its earliest stage.
"Fantasy Invest team provides strong expertise on the subject and introduces the players to the new stock market approach. The demand for the game and user-engagement rate is already high in the U.S., and the potential is even higher worldwide."
Sergey Bogdanov CEO YellowRockets.vc:
"Today, gamification enters all spheres of life, including serious ones like stock trading. Fantasy Invest understands its audience, speaks its language, and, through this approach, makes the product more accessible to people.
"Not long ago, no one could imagine that non-professional players might come to the financial market, but now it's a reality. Gamification becomes the primary tool in the battle for users' attention, especially in reference to Gen Z, the next generation of investors."
For more information, visit fantasyinvest.club.
Innokenty Nesterenko, CMO
Source: Fantasy Invest