Nexters reports 40% bookings growth in Q2 2021, confirms PIPE investment and SPAC transaction closing timeline

July 19, 2021

  • The company continues to deliver strong growth in quarterly bookings by 40% and an increase in the number of Monthly Paying Users by 43% in Q2 2021 year over year.
  • Additional investments secured: $50 million via PIPE from Mubadala Investment Company and VPE Capital.
  • Total investments reached $100 million which provides the cash minimum required under the business combination agreement, the SPAC merger deal is now expected to close by the end of Q3 2021.

July 19, 2021 — Limassol, Cyprus — Nexters, an international game development company that is in the process of closing a business combination with a SPAC company Kismet Acquisition One Corp (Nasdaq: KSMT, KSMTU, KSMTW), saw continued success in its approach to bring core gaming experiences to casual audiences as it announced further growth of Bookings in Q2. Nexters also reached the minimum cash condition required under the business combination agreement as a result of PIPE funding commitments, the transaction is now expected to close by the end of Q3 2021.

The Q2 results feature strong financial and operating performance after following sustainable growth for the beginning of the year. Fueled by successful marketing initiatives, Nexters reached $154 million in Bookings in Q2 2021 — 40% higher year-over-year for the same period in 2020.

This rapid growth came with an increase of monthly paying players by 43% year-over-year to approximately 400,000 paying players. Despite the significant inflow of new payers, who tend to spend less in the beginning of their lifespan, the blended average bookings per paying player kept relatively flat at $125.

«Our savvy marketing and fun games are landing well with a growing audience who haven’t stopped playing games,» Andrey Fadeev, Nexters CEO said. «These successes are further fuel for our readiness to go public.»

Additional investment has been secured thus letting Nexters to meet the minimum cash condition required under the business combination agreement. $50 million will be invested via PIPE (Private Investment in Public Equity) by Mubadala Investment Company and VPE Capital. The PIPE investment along with $50 million from SPAC sponsor Kismet Sponsor Limited provides the required minimum of $100 million.

Faris Al Mazrui, Head of Mubadala’s Russia and CIS Investment Program, said: «We are excited to establish this partnership with Ivan Tavrin and Kismet through this investment into Nexters. The company fits well within our expanding portfolio of tech companies that we believe will deliver long term and sustainable returns. Nexters is led by a strong and visionary management team, and is well-positioned to benefit from the ever-evolving games market.»

Roman Kudryashov, Partner of VPE Capital, said: «The gaming space is one to which we have been looking to gain exposure for some time, and we are convinced that Nexters offers a great growth opportunity for us and our LPs. The company demonstrates the kind of dynamic entrepreneurship we like to see in our Fund. We are very much looking forward to working with our new partners.»

The secured investments provide transaction security for closing the deal, which is now expected to be completed by the end of Q3 2021, subject to regulatory approval and other customary conditions. After closing of the business combination, Nexters is expected to trade on Nasdaq Global Select Market under the «GDEV» ticker symbol.

On January 31, Nexters and Kismet Acquisition One Corp («Kismet») entered into a definitive business combination agreement that will result in Nexters becoming a publicly-listed company on Nasdaq. The transaction, which placed Nexters at an enterprise value of $1.9 billion, will be funded by approximately $250 million of cash held in trust by Kismet, subject to potential redemptions, as well as the additional $50 million investment by the SPAC Sponsor, Kismet Sponsor Limited, and $50 million in the aggregate from PIPE investors Mubadala Investment Company and VPE Capital. The transaction is expected to close by the end of Q3 2021. Please find more information about this business combination at:

About Nexters

Nexters is an international game development company which strives to introduce the joy of core gaming experiences to casual players. Thanks to such hit games like Hero Wars, Throne Rush, and others the company reached over 200 million installs worldwide and became one of the top five independent mobile game companies in Europe. Headquartered in Cyprus, Nexters is built upon a team of 500+ inspired game developers. Please find more information about Nexters at: and follow Nexters on LinkedIn

Nexters Contact:

Andrey Akimov | Chief Communications Officer
IR: Roman Safiyulin | Investor Relations Officer

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates. Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing. For more information about Mubadala Investment Company, please visit:

About VPE Capital VPE Capital is a specialist emerging market asset manager focused on investing institutional funds to enhance risk weighted returns with a focus on the CIS region. For more information about VPE Capital, please visit: