Mpl’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Galactus Funware Technology Private Limited | CIN: U74999KA2018FTC113333
Mobile Premier League (MPL), founded in 2018 by Sai Srinivas Kiran Garimella and Shubham Malhotra, is a Bengaluru-based skill-gaming platform and unicorn disrupting online gaming in India and beyond. MPL offers a wide range of games spanning fantasy sports, casual, puzzle, and esports titles, leveraging a robust technology stack to ensure seamless user experience and high engagement. The platform has expanded rapidly into international markets across North America, Europe, and Africa, driving significant revenue growth through localized offerings and strategic partnerships. MPL’s data-driven approach to game development, personalized recommendations, and strong marketing analytics have fueled retention and monetization, resulting in revenue jump from $64.2M in FY22 to $104.6M in FY23 and $130M in FY24. Despite initial losses, the company optimized operations and marketing spend to narrow losses significantly, achieving near break-even by FY24. MPL continues to invest in product innovation, regulatory compliance, and global expansion, positioning itself for sustainable growth and exploring strategic avenues like IPO when market conditions are favorable.
| Founding year | 2018 |
|---|---|
| Headquarters | Bengaluru, Karnataka, India |
| Valuation | $2.3B (2021 unicorn valuation) |
| Total Funding | $182M+ |
| Employees | ~900 (FY24) |
| Revenue (FY22) | $64.2M |
| Revenue (FY23) | $104.6M |
| Revenue (FY24) | $130M |
| Net Loss (FY22) | $194.5M |
| Net Loss (FY23) | $37M |
| Break-even (FY24) | Near Break-even |
| Round | Date | Amount | Investors/Valuation |
|---|---|---|---|
| Seed | 2018 | $11M | Legatum Capital lead; unicorn at $2.3B (2021) |
| Series B | 2019 | $35M | Multiple investors |
| Series C | 2021 | $90M | Valuation $2.3B |
| Series D | 2022 | $45M | Funding for global expansion |
MPL’s revenue surged from $64.2M in FY22 to $104.6M in FY23 (↑63%) and to $130M in FY24 (↑24%), while net loss narrowed from $194.5M to $37M in FY23 and reached near break-even in FY24, reflecting improved unit economics and operational efficiency.
Profit margins were approximately -303.0% in FY22, -35.4% in FY23, and 0.0% in FY24, reflecting significant improvement from deep losses toward break-even.
MPL’s headcount rose from around 500 in FY22 to ~800 in FY23 and ~900 in FY24, supporting product development, marketing, and global expansion. Future hiring will focus on technology, compliance, and user experience to sustain growth.
- Expand international presence in North America, Europe, and Africa with localized content and partnerships.
- Enhance platform with AI-driven personalization, new game genres, and seamless UX improvements.
- Optimize unit economics through targeted marketing and cost-efficient infrastructure investments.
- Strengthen regulatory compliance and responsible gaming initiatives across jurisdictions.
- Explore IPO when sustained profitability and market conditions align, leveraging strong revenue growth trajectory.
In FY24, MPL’s parent M-League reported $130M revenue, achieving near break-even EBITDA. The platform saw 35% growth in India revenues to ~$88M, and 60% increase in active users. Founders continue to invest in new gaming ventures; IPO discussions are anticipated when markets are favorable.
| Metric | Details |
|---|---|
| Employees | 500 → 800 → 900 |
| Revenue | $64.2M → $104.6M (↑63%) → $130M (↑24%) |
| Net Loss | $194.5M → $37M → Near Break-even |
| Valuation & Funding | $2.3B (2021 unicorn valuation); $182M+ |
| IPO Status | Targeting IPO when sustained profitability and market conditions are favorable. |
| Expansion Focus | International markets, AI personalization, regulatory compliance, cost optimization. |
| Latest News | $130M revenue, near break-even in FY24; strong user growth and global expansion. |
MPL’s rapid revenue growth, significant reduction in losses, and global expansion underscore its leadership in skill gaming. Continued focus on operational efficiency, product innovation, and regulatory compliance will drive sustainable profitability and pave the way for a potential IPO.
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