STAMFORD, Conn., Nov. 17, 2022 (GLOBE NEWSWIRE) — Finacity Corporation, a White Oak Company, announced that it has successfully completed the facilitation of a new venture debt program for Immersive Group Gaming, Inc. (t/a Immersive Gamebox). The new facility provides funding for the rapidly expanding operator of innovative immersive gaming experiences across the US and EMEA. The first tranche discounted future receivables for an amount of USD 12.0 million. Additional tranches are expected to follow.
“When we started Immersive Gamebox, we set out to create a truly unique and technology-driven experience that would bring people together,” said Will Dean, CEO and Co-founder of Immersive Gamebox. “The debt financing program will allow us to reach as many people as possible around the world – families, children, team bonding, date night, you name it.”
About Immersive Gamebox
Immersive Gamebox (IGB) is reinventing how we play video games. The Gameboxes feature a range of cutting-edge technologies such as projection mapping, touch screens using our patented ‘Lidar’, 3D motion tracking, and surround sound to deliver an entirely new form of immersive entertainment without any bulky headsets. Teams of 2-6 play 30-60 minute games featuring levels and challenges designed to be fun, social, and collaborative. Co-founded by CEO Will Dean and CFO David Spindler in 2019, Immersive Gamebox currently has 15 locations across the US and EMEA with more to come. Designed by the company’s in-house game studio, Immersive Gamebox has over 12 intuitive games available to choose from. IGB was awarded “Travelers’ Choice” on TripAdvisor for two consecutive years for their deliverance of unparalleled entertainment experiences. For more information, and to purchase tickets to Immersive Gamebox, please visit immersivegamebox.com.
About Finacity, a White Oak Company
Finacity, a White Oak Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $150 billion. With resources in the USA, Europe, Latin America, and Asia, Finacity conducts business throughout the world with obligors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing, and recapitalization of small and medium enterprises. (www.Finacity.com)