Finnish developer Remedy has secured a €15 million loan from Tencent.

The move will be converted into approximately 811,110 new shares, representing 5.98% of the company’s total shares, under a convertible loan agreement.

Remedy CEO Tero Virtala explained that the financing will help support the company as it transitions towards self-publishing its games.

The loan is contingent on approval at Remedy’s Extraordinary General Meeting, scheduled for October 24, 2024.

“Part of Remedy’s long-term strategy has been to strengthen our position in the value chain, to have more control over how our games are commercialised, and to grow our share of the value these games can create,” said Virtala.

“As we move towards self-publishing, this financing will support us in developing and fully realising the potential of the games we have in development and successfully carrying out the commercial activities of our next self-published games.

“Tencent’s investment demonstrates strong confidence in Remedy’s long-term vision and strategy.”