Exclusive: Turkish developer Flow Games secures $46m in funding package led by Tencent

• Movement Video games has obtained a $46 million funding bundle led by Tencent, in accordance with a supply with data of the matter.
• Smash Fest generated 10.2 million downloads in July, in accordance with AppMagic estimates.

Turkish cell video games developer Movement Video games has secured a $46 million funding bundle, with roughly three-quarters of that sum coming from Tencent, in accordance with a supply accustomed to the matter who spoke to PocketGamer.biz. 

The Istanbul-based studio is behind Smash Fest, a physics-based cell shooter that has seen vital obtain development in latest months, in accordance with AppMagic estimates.

The deal marks one of many largest investments Tencent has ever made in a studio from Türkiye, excluding full acquisitions.

Smash Fest surge 

Smash Fest generated greater than two million downloads in June earlier than reaching 10.2 million in July, a 343% month-on-month improve. Estimated participant spending additionally rose over that very same interval, climbing from $692,000 in June to $3.4 million in July. 

More moderen AppMagic estimates put the sport’s gross lifetime participant spending at virtually $8.9 million, with round $8.3 million attributed to iOS and $526,000 to Android. AppMagic places each day participant spending at round $35,000 to $50,000 over the previous month. 

A supply accustomed to the funding instructed PocketGamer.biz that promoting accounts for many of Smash Fest’s income, which means its general earnings are possible considerably greater than participant spending alone would point out.

Tencent’s funding in Movement Video games comes amid continued funding within the Turkish cell video games sector. The corporate beforehand led a $25 million Series A funding spherical for Istanbul-based Circle Video games. In 2019, Tencent subsidiary Miniclip acquired Turkish studio Masomo.

Collectively, the offers spotlight Tencent’s ongoing curiosity in Turkish cell sport builders, from early-stage studios to established companies.

For extra available on the market’s newest developments, learn our look inside Türkiye’s fast-rising gaming hub.