Guild Esports completes £600,000 fundraise to enter sim racing

Guild Esports
Image credit: Guild Esports

UK-based esports organisation Guild Esports has announced the completion of a £622,200 fundraise.

As a result, Guild Esports will use the capital to help facilitate investment into Guild Racing, the organisation’s sim racing roster.

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In addition to bolstering its sim racing roster, the funds will also be used to ‘execute existing strategy’ as well as help day to day running of the company.

The creation of a sim racing team will be the sixth roster to compete under the Guild Esports banner. Alongside sim racing, the organisation also fields players and rosters in Counter-Strike, FIFA, Fortnite, Rocket League, and VALORANT.

The expansion into sim racing follows Guild Esports’ partnership with peripherals manufacturer Fanatec in June 2023. The two parties have joined forces to create a sim racing facility within the organisation’s headquarters. The facility will also be used by the Guild Racing team once it’s created.

The investement figure was generated through the share placing and subscription of over 103.7m new ordinary shares at a price of £0.006 per share. Alongside new and existing investors, notable Guild personnel took part in the fundraiser. This includes the organisation’s directors and executive management providing a total contribution of £100,000.

Despite financial hurdles in 2022, Guild Esports continues to consolidate its position as one of the largest esports organisations in the UK. In March 2023, it partnered with AI and data analytics company Gerford AI to utilise AI to develop its esports players.

Jasmine Skee, CEO of Guild Esports, spoke on the news: “We are pleased to complete the Fundraise which provides us with sufficient resources to execute our current business plan, and continue to manage the business prudently.

“This new funding combined with the right sizing of the business positions Guild well for future growth including through investment into new areas such as the exciting sim racing category.”

Jonno Nicholson
Jonno is a Freelance News Writer for Esports Insider and has been part of the ESI team since 2019! His interests include the rapid rise of sim racing and its impact on the wider industry.