Leeds-based investment team helps Soccer Manager grow in the Middle East

The online game Soccer Manager has secured £3m to support its continued growth in a funding round led by the Leeds office of its existing investor Mercia.
Pictured (L to R) are Soccer Manager co founder and managing director, Andy Gore and Garbutt + Elliott partner, Tariq Javaid, with Soccer manager on screen in the background.Pictured (L to R) are Soccer Manager co founder and managing director, Andy Gore and Garbutt + Elliott partner, Tariq Javaid, with Soccer manager on screen in the background.
Pictured (L to R) are Soccer Manager co founder and managing director, Andy Gore and Garbutt + Elliott partner, Tariq Javaid, with Soccer manager on screen in the background.

The latest investment, which comes from Mercia’s own funds, the Northern Powerhouse Investment Fund and the Government’s Future Fund, will allow it to grow its user base in the Middle East and Far East through local language translations, further develop its SM 2022 game which is due to launch this autumn, and relaunch its original multi-player game, SM World, by creating new apps and adding new features.

Soccer Manager's games are now played in 234 countries and have been downloaded by more than 50 million players, attracting more than one million active users each month.

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Founded by the brothers, Andy, Chris and Steven Gore, the company employs more than 40 staff. It was first backed with a loan from one of Mercia’s managed debt funds in December 2013, then received investment from Mercia’s EIS funds in December 2014 and received its first direct investment from Mercia’s proprietary capital in March 2015.

Andy Gore, CEO of Soccer Manager, said “We founded Soccer Manager with a vision to create high- quality football games that the whole world could play. We have always had the view that football, mobile and the internet is a powerful combination to achieve this vision. After years of building out our IP, technology, and games to millions of people worldwide, this investment will add significant fuel to our current growth trajectory and ambitions.

"We are delighted to have Mercia as a partner that continues to share our vision and we look forward to the next stage of our journey together.”

Yorkshire accountants and business advisers Garbutt + Elliott provided fundraising advice to Soccer Manager. The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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Ken Cooper, Managing Director at British Business Bank, said: “The Northern Powerhouse Investment Fund continues to provide vital funding to innovative businesses across the region."

Julian Viggars, CIO of Mercia Asset Management, said: "The business was already on a strong growth trajectory before the pandemic, but with the increasing numbers of ‘at home gamers’ not expected to slow down, we anticipate that there is further significant potential in this asset.”

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