Latest in Gaming

Image credit:

Funcom nets additional $1.6 million to fund Lego Minifigures Online

Danny Cowan , @db_cowan
04.28.14
Shares
Share
Tweet
Share
Save
Online game developer Funcom has received an additional 9.7 million Norwegian krone ($1.6 million) to continue developing its upcoming kid-friendly MMO Lego Minifigures Online, the company announced this week.

The funding arrives as part of a standby equity facility agreement with Yorkville Advisors, a firm that agreed to provide Funcom with additional capital if requested within 36 months of the contract's signing.

"We are very pleased to have increased the company's financial flexibility with funds that will be used in preparing for the launch of Lego Minifigures Online," Funcom CEO Ole Schreiner said. "We have several times expressed a need for additional equity and have considered different alternatives to secure this. This facility has been available to us since 2012, but the timing has not been right before."

An open beta for Lego Minifigures Online is due to launch in June.

[Image: Funcom]