The company completed its IPO on the Tel Aviv Stock Exchange, raising $9.3 million
CTech19:2308.08.21
Israeli company BUFF Technologies has become the first local gaming company to be listed for trading on the Tel Aviv Stock Exchange. The company announced on Sunday that it raised over NIS 30 million (approximately $9.3 million) from various investors. The company's three founders and controlling shareholders are Elay de-Beer, Ophir Gertner and Ophir Sarapi. The IPO was led by Value Base Underwriting. BUFF’s platform was designed for gamers (eSports) and it supports and works with some of the most famous games in the world: Fortnite, Counter Strike, League of Legends, Rocket League and more. The company is involved in a collaboration agreement with Overwolf, the Israeli gaming startup that developed a plug-in platform for computer games, and that recently raised $52 million. The platform identifies the achievements of the players in various games, rewarding players and allowing them to earn "Buff Points", which can then be used for real-world purchases. BUFF co-founders Ophir Gertner, Elay de-Beer and Ophir Sarapi. Photo: Ilan Sapira