Plitch raises US$1.9 million
The start-up intends to use the money raised to expand its own reach and technology.
Engelhardt Kaupp Kiefer is investing 1.9 million euros in the operator of cheat software Plitch MegaDev. The investment company from Stuttgart has already invested in Turtle Investement, which operates the Electronic Sports League (ESL). "As in the case of ESL, we also see Plitch as an opportunity to revolutionize the gaming world," says Moritz Reck, analyst at Engelhardt Kaupp Kiefer, the online portal Gameswirtschaft.
Plitch offers cheat codes for more than 2,600 PC games, which players can use to gain advantages. The cheapest subscription costs 4.99 euros per month.
The Munich-based start-up employs 15 people. Further growth is planned with the investment. "Our focus is on scaling our Plitch platform, which is already being used by hundreds of thousands of players," co-founder Robert Maroschik told Gameswirtschaft. "From our point of view, there is now an opportunity for immense growth in an underserved market."
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