Sanlo, which builds financial products to help gaming and app companies to run a “healthy and sustainable business”, has scored $3.5m in funding.
The over-subscribed round was co-led by Index Ventures and Initial Capital, with participation also coming from LVP, Portag3 Ventures and XYZ Venture Capital. A number of angel investors also joined the round, including Kristian Segestrale, Gokul Rajaram and Charley Ma.
Capital from the round will be used to grow its team and further the development of its product suite to prepare for its wider launch later this year.
Sanlo was founded in 2020 by Olya Caliujnaia and William, who both have experience building games, including Sims, Minions Paradise and Monopoly Slots. The founders also have experience building FinTechs in lending and financial advisory services.
This understanding of gaming and FinTech led the pair to help gaming and app companies better engage with audiences. Its platform analyses different facets of the business to help game and app developers know where to deploy capital and when, for the highest ROI, while assisting with access to capital.
Sanlo co-founder and CEO Caliujnaia said, “Will and I have worked in gaming and have deep respect and appreciation for the work that goes into creating products that bring people joy. We know that oftentimes building takes priority over business operations.
“Companies may not always be able to fully realize their potential because of the insufficient visibility into their financial picture and, therefore, miss opportunities to get timely insights and suitable financing to accelerate growth. We want to change that by taking all of the guesswork out of the financial side of running and growing the business.”
In line with the investment, Initial Capital co-founder and partner Ken Lamb has become a board director, while Index partner Mark Goldberg and XYZ managing partner Ross Fubini have joined as board observers.
Lamb said, “The robust and rapidly expanding universe of tens of thousands of mobile gaming and app companies across multiple platforms is desperately in need of the ‘picks and shovels’ required to grow these businesses.
“Sanlo’s technology offers a custom-tailored suite of mission critical products and services that will immediately and dramatically accelerate the revenue trajectories for these companies. The Sanlo team has the ideal experience and expertise to deliver the perfect solutions during this perfect storm.”
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