Fintech company Sanlo announced that it has raised $10 million from its Series A funding round. The company provides game and application developers with a variety of tools and technologies to improve their business.
Konvoy Ventures led the funding round. The investors were also initial Capital, Portage Ventures, XYZ Venture Capital, London Venture Partners, and Index Ventures. In addition, Fin Capital, GFR Fund, and many angel investors, who can be considered new in the investment industry, also participated in the financing round.
Sanlo will use this new investment to improve its financial management system and deliver it to more developers. The company prepares financial insights through its own algorithms to facilitate developers’ access to capital. This means that developers working with Sanlo can easily access a lot of data when planning for the future.
In addition to offering financial management technologies, the company is also considering funding successful game/app developers if things go as expected. Sanlo is considering making this funding non-dilutive. This means that, unlike VCs, Sanlo will not seek any shares, rights, or equity from the other company in its investments and will not be involved in the development process. The company also states that no compounding interest will be charged during fund repayment. In this context, the company gives a kind of low-interest loan to developers.
Sanlo has become one of the first companies to provide such services for game and application developers in line with the above purposes. It seems likely that more news will come soon from the company, which is thought to be of great benefit for a particular niche, especially for the game industry.
