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OneVerse acquires e-gaming companies Calling Station and BatBatt11

EntrackrEntrackr · 1y ago
OneVerse acquires e-gaming companies Calling Station and BatBatt11
Medial

Metaverse and gaming technology platform OneVerse has acquired two companies: Calling Station, and BatBall11. The acquisitions will help OneVerse to solidify its position in the gaming market, as per the company. Calling Station develops online games and delivers superior experience with safety and security while BatBall11 is a rewards-based fantasy sports platform for multiple sports which enables users to make virtual teams to win prizes. The Bengaluru-based company is looking to acquire more companies in the next three months as a part of a larger strategy announced earlier, it said in a press release. In February, OneVerse acquired online poker platform Spartan Poker as part of its plan to acquire 13 companies. It also announced a $120 million worth fund which will be used to acquire eight companies. Founded by Paul Michael, OneVerse is a MetaVerse platform which is dedicated to enable an immersive experience for gamers. It aims to continue to redefine industry standards and shape the future of gaming. The company plans to invest an additional Rs 250 Crore across its portfolio of investments

OneVerse acquires e-gaming companies Calling Station and BatBall11

EntrackrEntrackr · 1y ago
OneVerse acquires e-gaming companies Calling Station and BatBall11
Medial

Metaverse and gaming technology platform OneVerse has acquired two companies: Calling Station, and BatBall11. The acquisitions will help OneVerse to solidify its position in the gaming market, as per the company. Calling Station develops online games and delivers superior experience with safety and security while BatBall11 is a rewards-based fantasy sports platform for multiple sports which enables users to make virtual teams to win prizes. The Bengaluru-based company is looking to acquire more companies in the next three months as a part of a larger strategy announced earlier, it said in a press release. In February, OneVerse acquired online poker platform Spartan Poker as part of its plan to acquire 13 companies. It also announced a $120 million worth fund which will be used to acquire eight companies. Founded by Prashant Joshua, OneVerse is a MetaVerse platform which is dedicated to enable an immersive experience for gamers. It aims to continue to redefine industry standards and shape the future of gaming. The company plans to invest an additional Rs 250 Crore across its portfolio of investments

OneVerse acquires Spartan Poker for undisclosed amount

EntrackrEntrackr · 1y ago
OneVerse acquires Spartan Poker for undisclosed amount
Medial

MetaVerse and gaming tech company OneVerse has acquired online poker platform, Spartan Poker, for an undisclosed amount. This is a continuation of OneVerse’s M&A strategy looking to consolidate the gaming market, OneVerse said in a press release. It added that the recent macroeconomic headwinds have unlocked momentum for M&A opportunities, and the company is looking to close a few additional acquisitions in the next three months for $120 million. Spartan Poker’s founder and CEO Amin Rozani said, “…This acquisition opens up new horizons for creativity and technological advancements, and we look forward to creating extraordinary customer gaming experiences together.” The development comes six months after Spartan Poker fired 40% of its workforce or 125 employees due to the government’s 28% GST on real-money gaming companies. With over 2 million registered users, Spartan is one of the largest online platforms for poker in India. It has also not raised venture capital to date. Spartan claims that it clocked a revenue of Rs 200 crore but its consolidated financial statements with the RoC showed that it made Rs 95 crore in FY23 while its losses stood at Rs 6.21 crore in the same period. The consolidation appears to be driven by the 28% GST rule introduced by the Indian government effective from October last year. Since then, a clutch of startups including Fantok, One World Nation (OWN), and Quizy shut their operations while MPL, and Hike Rush Gaming have fired more than 400 employees, cumulatively. Dream11, the largest player in the space, was also impacted heavily by the GST crackdown. The firm had shut down its investment arm Dream Capital and projected an 80% fall in its profits in the ongoing fiscal.

Debt resolution platform Credgenics acquires Arrise

EntrackrEntrackr · 10d ago
Debt resolution platform Credgenics acquires Arrise
Medial

Debt resolution platform Credgenics acquires Arrise Arrise, founded in 2019, has a presence across over 25 Indian states through a network of over 5,000 professionals and provides calling services in more than 13 vernacular languages. Credgenics, a SaaS-based debt collections and resolution platform, has launched CG Setu, an initiative to strengthen field debt collections through the acquisition of Arrise, a collections service provider focused on the BFSI sector. According to Credgenics, CG Setu will be a unique field fleet of smarter, agile, and digitally empowered personnel with standard operating procedures that act as an on-ground bridge between lenders and borrowers. This move will harness its collections technology leadership and Arrise’s expansive pan-India network. Arrise, founded in 2019, has a presence across over 25 Indian states through a network of over 5,000 professionals and provides calling services in more than 13 vernacular languages. It will continue to operate under its existing leadership team for a minimum period of 5 years. With this acquisition, Credgenics becomes a comprehensive full-stack collections solutions provider with a pan-India presence offering end-to-end capabilities, including on-field operations across over 18,000 pin codes, digital collections, multiple dialers, voice bots, litigation and repayment management systems, and strategic consulting on collections and legal workflows. “This strategic partnership marks a huge step forward in Credgenics’ mission to transform debt collections with technology. CG Setu will disrupt the field collections model with its efficient, data-driven, and compliant approach. It will deliver greater efficiency and complete transparency for lenders, while providing a superior experience for borrowers,” said Rishabh Goel, co-founder & CEO, Credgenics. Credgenics claims to have handled over 98 million loan accounts worth more than $250 billion in FY24 and facilitated 1.7 billion omnichannel communications for over 150 financial institutions globally. The company has raised approximately $80 million to date, including a $50 million Series B round led by WestBridge Capital in August 2023. Credgenics has posted a 40% jump in its annual revenue to Rs 220 crore in FY25 and also reported a profit before tax of Rs 25 crore for the same period.

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