- Saudi Arabia-based gaming platform Spoilz Games has closed a pre-Seed investment round of $692,000 from angel investors.
- Founded in 2020 by Musab Almalki, Spoilz is a gaming studio and publisher based in Riyadh.
- This investment will help the studio develop more games and embark on its expansion plans outside of Saudi Arabia.
Spoilz Games, a leading Saudi mobile gaming studio and publisher based in Riyadh, Saudi Arabia, has closed a pre-seed investment round of SR2.6 million ($692,000) from angel investors.
This investment will allow the company to further develop and publish high-quality, entertaining games that create memorable experiences for a global audience of gamers, as well as sustain its efforts to expand worldwide.
Most of Mena’s youth population have grown up as digital natives, and gaming plays a huge role in their entertainment. Thanks to the high penetration of smartphones and the internet, gaming has evolved dramatically in the last decade, particularly in Saudi Arabia, the United Arab Emirates and Egypt, referred to as Mena-3, where games revenue accounted for $1.76 billion in 2021.
Since its inception back in 2020, Spoilz has set its sights on this growing market. With its limitless strength to think big and be imaginative, it has endeavoured to build partnerships with publishers and studios and invested in talent pool across the community to publish fun games for the world’s young and fast-growing population of gamers. This has earned the company an award in KAUST’s Game Jam for excellence in the narrative for its “Re-Train” game and allowed it to become the leading creator in the industry.
Spoilz Games CEO Musab Almalki commented: “Mena's gaming industry is expected to grow rapidly in the next few months, creating a need for quality content to meet users' expectations. This fund will enable us to grow and publish games that compete globally.”
Saudi Arabia’s games market accounted for the highest value among Arab Gulf countries in 2021, aptly positioning the kingdom as the gaming powerhouse of Arabic speaking nations in the Mena region.