InvestGame tracks more committed UA financing than early-stage equity in mobile

Its latest digest compares $398 million of committed user-acquisition facilities with $254 million of early-stage rounds in the first three quarters of 2026.

UA facilities represented 61% of the combined $652 million in InvestGame’s comparison for mobile games and consumer apps. Unlike an equity round, a cohort facility can fund acquisition spending and recover advances from the revenue associated with acquired users.

The digest describes different repayment models, including capped revenue shares and fixed interest plus performance fees. Consequently, a facility headline alone does not reveal its effective cost, eligibility conditions or amount actually drawn.

The October 26 edition reports six announced deals worth $130.9 million for the October 19–25 week. Those weekly figures are separate from its nine-month financing comparison. The research highlights a changing source of growth capital, but does not establish that every studio can replace equity financing with debt.