Mobile Premier League (MPL) announced a Series E financing on September 15, 2021, at a $2.3 billion pre-money valuation. MPL did not disclose how much it raised; contemporaneous reporting put the amount at $150 million, citing people familiar with the deal. The valuation is company-confirmed, while the financing amount is a reported figure, not a disclosed term.
What MPL announced—and what it did not
MPL’s September 15, 2021 announcement confirmed the Series E round and its $2.3 billion pre-money valuation. “Pre-money” means the company’s stated valuation before the new investment is added; it is not the amount raised, nor does it by itself state the value of any individual investor’s stake. MPL’s announcement did not disclose the round’s size.
Business Standard, citing Bloomberg and people familiar with the transaction, reported that the round was $150 million. That figure should be treated as media-reported rather than confirmed by MPL. Contemporaneous reporting does not turn the reported amount into an official company disclosure.
Who invested in the Series E?
MPL named Legatum Capital as the lead investor. The company also listed these existing investors as participants:
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The announcement identifies participants but does not give individual investment amounts or ownership stakes.
What MPL said it would do with the funding
MPL said it planned to use the capital for global expansion, investment in its home-grown technology, and continued growth in India. Those were the company’s stated priorities at the time of the 2021 announcement, not a report of how the proceeds were ultimately spent.
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As one example of its international ambitions, MPL said it had partnered with Play Magnus Group to host an Indian circuit through which players could qualify for the Meltwater Champion Chess Tour. MPL co-founder and CEO Sai Srinivas described the financing as “a recognition of the potential of the Indian gaming and esports industry and an endorsement of the capability of MPL to expand globally.”
What MPL’s user and game figures show
Keep the company’s 2021 operating figures separate from the numbers it publishes now. In its 2021 announcement, MPL said it had more than 90 million registered users globally, had recently started operating in the United States, and had completed two years of operations in Indonesia. These are historical, company-reported figures—not current user or market totals.
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MPL’s current About page, accessed in 2026, reports more than 60 games and more than 120 million registered users across India, the United States, Nigeria, and Brazil. Those, too, are company-reported figures; the page does not show a publication date. Its current metrics should not be read as a direct update to the 2021 country list or as independently verified counts.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How MPL’s platform worked at the time
Bloomberg’s contemporaneous description characterized MPL as a platform connecting game publishers and players. Users could play free games and enter gaming contests, including contests with paid entry and prizes. That description concerns the platform model reported in 2021; it is not financial advice or an endorsement of paid play.
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In the same coverage, Srinivas said, “Gaming is the only entertainment content where language is no barrier,” and that “Gaming startups can transcend international boundaries.” The comments expressed the company’s rationale for seeking growth beyond India; they are not evidence of the financing’s later results.
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