TechFlow news, July 3 — According to Marketscreener, Swedish gaming and esports company Fragbite Group has secured an investment of 5 million Swedish kronor (approximately $520,000) to establish its new business unit "Bitcoin Treasury Reserve." The investment was made in the form of an interest-free loan from insiders of the company, including CFO Patrik von Bahr.
Stefan Tengvall, CEO of Fragbite Group, said the funding will provide initial liquidity for the new business unit, enabling the company to explore more efficient ways to build a strong capital structure and increase shareholder value through Bitcoin.
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