F1 Arcade, the operator of Formula One driving simulators, is in the final stages of securing a £100m debt facility to support its expansion plans. The financing round has garnered support from Liberty Media, the owner of the sport, as well as British challenger bank Oaknorth and investment fund Cheyne.
According to sources within the city, the deal is expected to be finalized within the next week, just in time for the British Grand Prix at Silverstone. F1 Arcade’s current shareholders include McLaren Racing driver Lando Norris, Imbiba, an investment fund focused on leisure and hospitality, and DMG Ventures, the venture capital arm of Daily Mail’s parent company.
While F1 Arcade currently operates three sites, including one in Boston, it has ambitious plans to expand to over 30 locations worldwide by 2027. Its flagship site, located in the City of London, offers customers the opportunity to compete against each other on dozens of racing simulators, catering to the growing demand for immersive leisure experiences.
Founded by the same executive team behind Puttshack and Flight Club, F1 Arcade has quickly gained a valuation of approximately £200m, according to banking sources. A spokesperson for the company declined to comment on the financing round.
