Pino Ergo Proxy Vote com, an Australian online gaming company, has secured a $1 billion Series B financing round led by Alibaba’s (BABA) Alipay, the company announced on Monday.
The deal brings together Alipai and H.O.P., a popular Chinese gaming platform, to fund a $4 billion funding round that aims to boost the gaming business by building out its mobile gaming ecosystem and growing its user base.
“Alipay is a global leader in the world of mobile gaming, and we are thrilled to partner with the world’s largest and most well-respected gaming platform,” said Alipa founder and CEO John Pino.
“We look forward to expanding H.EO.
P.’s reach to new markets, and are excited to partner on this new investment with the industry leader.”
Alipai’s mobile gaming platform H.H.E.-P.
is available in more than 200 countries, and it is one of the most popular mobile gaming platforms in China, accounting for approximately 10% of global mobile gaming revenue.
P’s mobile game H.
Punch has also been popular in China and is one the fastest-growing games on the App Store in the country.
Alipa has also invested in mobile gaming giants, including Baidu, Baiduo, and Tencent, which it owns a significant stake in.
Hudsucker Proxy Vote, which has already raised a $3 billion Series A funding round, will provide an additional $1.5 billion in Series B funding to the company.
The company’s first investment is for $250 million, the latest round is expected to close in the second half of 2018.