Major cash injection for Brazilâ??s fast-growing social games firm
As Bigpoint expands into Brazil with eyes on the “fast expanding” Latin America market, a native developer in the region has secured millions for its own development.
Social game firm Vostu has received a $30 million investment from Accel Partners and Tiger Global Management, according to the Wall Street Journal.
Both those VC groups have an encouraging track-record in its game company bets, with Tiger Global previously backing Zynga, and Accel investing in the now-EA-owned Playfish.
Vostu boasts a growing catalogue of social games, and now has more than 20 million active users, due to its success on Brazil’s popular social networking site Orkut.
The firm is profitable, according to the Wall Street Journal, and will use the new cash to expand in Brazil.
Today Bigpoint announced it is to open up its own operations in South America.