Brazilian esports organisation Rensga Esports has secured undisclosed Series A funding from Brazilian investment group Componente.
The funding injection comes following Rensga Esports securing a spot in the newly franchised Brazilian League of Legends competition, CBLoL.
It is expected that Componente’s investment will contribute towards the $4M BRL (~£548,440) price tag for a franchise spot in the new CBLoL. Additionally, Rensga will also use the funds raised to expand the Orbi Gaming esports centre and improve the team’s training facilities.
Both Rensga Esports and the Orbi Gaming centre are owned by parent company Go Gaming.
On the new investment, GO Gaming CEO Djary Veiga commented that he is “very happy with the arrival of Componente as a strategic partner in our growth. It is a huge addendum to the team mainly for its experience on the solid growth of several companies, such as Bodytech, Soul Cycles, and Fast Triathlon, in addition to its tradition in promoting and encouraging sport.
Similarly, João Paulo Diniz, Componente Founder noted that “through my son, who worked at GO4IT, I got to know the esports world and was amazed by the growth, potential, and numbers of the area, which sometimes surpasses even the traditional sports. So I got connected through my son to the Go Gaming executives, liked their project, learned the potential of the franchise in CBLoL, and decided to enter this market.”
Esports Insider says: The upfront cost of spots in franchised leagues has always been a significant hurdle for organisations to overcome. The investment comes at the right time for Rensga, and will hopefully put the organisation in a stable operating position once the new CBLoL kicks into gear.