Hike logs out of gaming platform WinZO in $12 mn deal

BENGALURU : Social gaming platform WinZO on Monday said that it has provided a complete exit to early investor Hike Pvt. Ltd through a share buyback worth $12 million.

Hike has received a four-fold return on its investment in the gaming company through the buyback, WinZO said.

Hike and Kalaari Capital had led WinZO’s $5 million Series A round in July 2019.

The news of Hike’s exit comes after WinZO had raised close to $18 million in Series B funding, led by existing investors, including co-chair of Bain Capital and early investor in Epic Games Stephan Pagliuca, Singapore-based Makers Fund and New York-based Courtside Venture in September 2020, taking the total fundraise tally for the three-year-old startup to $38 million.