Green Horse Games secures first investment
Romanian online gaming startup Green Horse Games recently secured an angel investment from EEU Software general manager Malin-Iulian Stefanescu. The amount of the funding is not public, however, it is known that Stefanescu is now a minority shareholder with 11.5% of the company. This is the startup’s first investment, and it will go towards developing their online game CarsCup, and later on – of a second product.
“CarsCup was launched in beta a month ago, and the funding received now will support the continuous development of the company, team and games developed by Green Horse Games,” George Lemnaru, CEO and co-founder of Green Horse Games, told inventures.eu. Up until now, Green Horse Games has been bootstrapped, with Lemnaru investing some of his own savings. Now, with Stefanescu on board, he believes that they have found an investor who has a thorough understanding of the concept behind the startup.
“They say an investment is just as serious as marriage,” Lemnaru said. “It involves chemistry, trust and dedication on both side – investor and entrepreneur. Having received funding is just the starting point of a long and lucrative relationship.”
Lemnaru is not a newcomer to the startup scene. In 2003, he launched his first business, NaturaPlant.ro – an online store for natural products, while four years later, he moved towards the gaming industry by developing a social game.
Currently, the startup team’s main goal is to grow their number of active users, and further expand CarsCup. They expect to reach profitability by the end of 2013.