FunFair Games to shutter as parent company pulls funding

FunFair Games is set to shutter after the supplier’s parent company, FunFair Technologies, “decided to stop funding” the venture, according to the arm’s CEO.

The supplier’s CEO Mark McGinley revealed that FunFair Games would be closing after the parent company pulled funding due to “challenging conditions in a challenging market”.

FunFair Games formed one arm of FunFair Technologies’ three-pronged business, which also included VC arm FunFair Ventures and blockchain R&D division FunFair Labs.

The move to shutter FunFair Games comes just one month after the studio revealed its new branding that the firm said was part of its “ambitious growth plans for 2023”.

In fact, just two weeks ago, FunFair Games was looking to hire a project manager to play a key role in the company’s management team and lead on “planning, implementing and managing new online gaming studio projects”.

Posting on LinkedIn, CEO McGinley confirmed the parent company’s decision to close the brand and took the opportunity to reflect on his 11 months in the role.

McGinley said: “It’s with a heavy heart that I’m writing to inform my professional network that we’re closing FunFair Games and this week will be my final week at the company.

“Due to challenging conditions in a challenging market the FunFair Technologies Group has decided to stop funding FunFair Games.

“I’d like to take this opportunity to thank [FunFair Technologies COO] Lloyd Purser and [FunFair Technologies CEO] Jeremy Longley for the opportunity and to the wider FunFair Games team who were a pleasure and delight to work with and who worked tirelessly throughout to drive positive change.

“I’d also like to say a special thank you to business partners, operators and industry friends and colleagues who worked with us and supported us each step of the way,” he added.

It is unclear whether the two remaining arms of the business will be impacted.

EGR has contacted FunFair Technologies for comment.