Turkish mobile games developer Flow Games has secured a $46 million funding package, with approximately three-quarters of that sum coming from Tencent, according to a source familiar with the matter who spoke to PocketGamer.biz. 

The Istanbul-based studio is behind Smash Fest, a physics-based mobile shooter that has seen significant download growth in recent months, according to AppMagic estimates.

The deal marks one of the largest investments Tencent has ever made in a studio from Türkiye, excluding full acquisitions.

Smash Fest generated more than two million downloads in June before reaching 10.2 million in July, a 343% month-on-month increase. Estimated player spending also rose over that same period, climbing from $692,000 in June to $3.4 million in July. 

More recent AppMagic estimates put the game’s gross lifetime player spending at almost $8.9 million, with around $8.3 million attributed to iOS and $526,000 to Android. AppMagic puts daily player spending at around $35,000 to $50,000 over the past month. 

A source familiar with the funding told PocketGamer.biz that advertising accounts for most of Smash Fest’s revenue, meaning its overall earnings are likely substantially higher than player spending alone would indicate.

Tencent’s investment in Flow Games comes amid continued investment in the Turkish mobile games sector. The company previously led a $25 million Series A funding round for Istanbul-based Circle Games. In 2019, Tencent subsidiary Miniclip acquired Turkish studio Masomo.

Together, the deals highlight Tencent’s ongoing interest in Turkish mobile game developers, from early-stage studios to established businesses.

For more on the market's latest developments, read our look inside Türkiye's fast-rising gaming hub .

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