Lithuanian gaming marketplace Eneba has raised $8 million from Practica Capital and InReach Ventures, with support from FJ Labs and angel investors such as the COO of the country's first unicorn, Mantas Mikuckas of Vinted.
The marketplace localises the shopping experience and offers discovery tools for locally trending games. Notably, the Baltic company is the first to offer gamers a one-click purchase option, secured by proprietary machine learning and fingerprinting technology.
The shopping experience has earned Eneba about 26 million unique users across Lithuania, the UK, Germany, Spain, France, Poland, and other European countries. In the last several months, the platform caught on with US gamers, and that's now the company's fastest growing market.
To keep up, the business expanded its team quickly and is now comprised of 130 software developers, risk analysts and marketers.
Indeed, the company is building its own risk management system in order to keep up with exponential demand and future global roll-outs. The system supposedly eliminates many risky transactions, simplifies the refunding process, and blocks most fraud threats, which makes Eneba, in its own words, "one of the safest marketplaces on the internet."
Photo: Co-founders Vytis Uogintas and Žygimantas Mikšta