Cashgrail Private Limited owns and operates the gaming platform Zupee. Zupee is a real money gaming platform and mobile-gaming product that enables players to compete with their friends and other gamers. Zupee includes multiplayer games like Ludo, Snakes & Ladders, and Carrom among others. It also includes live quiz tournaments covering several topics that range from Bollywood, Hollywood, and sport, to math, spelling, and Hinglish.
India's casual gaming market is ripe for growth: with mobile being the most convenient medium through which to enjoy casual gaming, smartphone and internet access contribute to the growth of this segment.
Some other factors include:
Growth of online gamers in India: there has been strong growth in the number of online gamers in India, from 278 million in CY18 to 390 million in CY21. The number of gamers is projected to increase to 450 million by CY23.
Increasing acceptance of paid online games: the propensity for Indian consumers to pay for online games is increasing as gaming gains social acceptance. The number of first-time paying users in India increased by 50% in CY21. Furthermore, existing transaction-based gamers are spending more money on games, which will increase their purse over time. The company operates transaction-based mobile gaming products. Industry-wide, transaction-based games are projected to grow from INR 72 billion in CY21 to INR 108 billion in CY24.
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