Investor Pitch Deck · 2026

FREE
WARS

THE FIRST AGE

Every strategy player has a moment. The merge that wiped their alliance. The bundle that made skill irrelevant. The day they stopped caring. One of our founders had that moment — and built something instead. Free Wars: The First Age is live, server-authoritative, and permanent. The world remembers. So do the animals.

4X Strategy MMO Mobile First Manchester, UK
Seed Funding Round
£1.5M
Total Ask · 20% Equity
20%
Equity · £7.5M Post-Money
18–24 mo
Runway to Global Launch
4 → 13
Staged Team · Manchester
Capital Efficient
UK-Led · Lean Ops
The Problem

Strategy Games Have Lost Their Soul

The market leader generates $75M/month (Sensor Tower State of Mobile 2026) — and its highest-value players are actively frustrated.

Pay-to-Win Fatigue
Pay-to-win mechanics are the single most cited complaint across App Store and Google Play reviews. In the market leader, numerical power advantages are sold directly — a player who spends more wins regardless of skill. No major SLG has built fair free-to-play as a core principle. Free Wars does.
No Permanent World
Server merges are standard across every major title. In Whiteout Survival, developers call it a “total reset of the world map.” In the market leader, forced merges dissolve Capitol leadership, wipe diplomacy, and reset map positions. In Rise of Kingdoms, alliance buildings are destroyed entirely. Free Wars solves it permanently.
No Emotional Stakes
Every top title uses generic themes with interchangeable units carrying zero emotional weight. The genre has never made players care about characters they command. Free Wars introduces the Bond system. Your animals are beings with a covenant. If your primary commander falls, something breaks permanently.
“No skill is needed to play. Only a steady flow of money is enough to succeed.”
— dareCzech, Apple App Store
“Locked in a server without ever being able to change. When #1 is twice as strong, no more game.”
— Grego579, French App Store
Based on analysis of 1.4M+ reviews across App Store, Google Play, and Reddit.
Market Opportunity

A $17.5B Genre with a Declining Leader

Strategy games generated $17.5 billion in 2025. The market leader fell from $212M/month to $75M.

Strategy Genre Revenue 2025
$17.5B
Growing 20% YoY. Only genre gaining revenue, downloads, and time spent across every major market. 4% of downloads, 21% of all consumer spending.
Market Leader Decline from Peak
−65%
Lifetime ~$2.6B. Peak $212M/mo (Jan 2025). Current ~$75M/mo (Mar 2026). 1.4M reviews identify P2W and server merges as dominant reasons. Source: Sensor Tower 2026 · AppMagic 2025
$2.6B
Lifetime Revenue
Proof genre converts
20%
IAP Growth YoY
Growing everywhere
$212M
Peak — Jan 2025
↓ 65% decline
$75M
Current — Mar 2026
↑ Window open
$94B
Global app install spend 2026
Sensor Tower / eMarketer 2026
The Team

GreenTech Games Ltd — Manchester, UK

Ten years shipping mobile titles on iOS and Android.

CEO / Co-Founder
Usman Muzammil Sheikh
10+ Years Mobile Games
in LinkedIn
Full cycle from dev to App Store. Shipped: Grab City Taxi Simulator, Extreme Car Parking, Off the Road 4x4, USA Trucker.
CTO / Founder
Mohsin Javed
MSc AI · 10 Years Unity
in LinkedIn
MSc AI, Salford. 10 years Unity across UK and US including Mega Cat Studios. 8 years as an active player of 4X MMO strategy games — he does not just build this genre, he lives it. Architecture, AI systems, DOTS/ECS, server infrastructure.
COO · CCO · Co-Founder
Bilal Imtiaz
Serial Entrepreneur · US & UK
in LinkedIn
Built own gaming studio, shipped on iOS & Android. 10+ years global BD. Leads fundraising, publishing, ASO, investor relations.
Technical Lead
Sajwar Khizar
Game Dev Specialist
in LinkedIn
CTO at We Gamin Studio. MOU with Eraflip Tech — gaming and technology collaboration.
Shipped Games — iOS
Grab City Taxi Simulator 2025
Extreme Car Parking Simulator
Extreme Motorbikes City Ride
Off the Road 4x4 Mudding Race
USA Trucker Driving & Parking
Team Structure
4 → 13 person team · Staged · Manchester
4 confirmed leads + hires per milestone
MOU: We Gamin Studio × Eraflip Tech
“Ten years. Two platforms. Skin in the game since day one. While others were theorising, we were shipping — real games, real stores, real players. A lean UK-led studio with below-market founder salaries and the discipline to make every pound count. The market is ready. The window is open. And we are exactly the team built for this moment.”
The Game

Free Wars: The First Age

Two cataclysms. One hope. A world that remembers everything.

The Unmaking & The Awakening
The Unmaking: Humanity destroyed itself. Cities emptied. Civilisation stopped — not in fire, but in silence.
The Awakening: Animals changed. Deeper awareness. Cross-species recognition. Survivors who refused to look away became the first Bonded.
“The most beautiful thing humanity ever created was created by accident in the moment of its greatest crime.”
“They call this the First Age — because they refuse to call it a second attempt at something that failed.”
Bonded Animals
Not units. Companions. If your primary commander dies, something in your hero breaks permanently.
Permanent World
No server merges. The map accumulates history — every battle, alliance, monument. Forever.
Three Factions
Builders, Pragmatists, Servants. Three irreconcilable worldviews. No villains. Only choices.
The Echoes
Seasonal threats tied to humanity’s crimes. Each reshapes the meta and reveals the mystery.
Platform
Launch: Mobile (iOS + Android). Expansion: PC via Steam.
Core Gameplay Loop

What Actually Happens When You Play

Nine steps. One permanent world. A loop no competitor has built.

🚶
Step 1
Arrive
Enter the persistent world. A living map already scarred by history.
›
🐾
Step 2
Bond With Animal
An animal chooses you. A covenant forms. Not ownership. Something deeper.
›
🏛
Step 3
Build Base
26 building types. Upgrade queues. Your base is yours permanently.
›
🌎
Step 4
Expand Territory
Every tile claimed leaves a mark. The map accumulates your history.
›
⚔
Step 5
Join Faction
Builders. Pragmatists. Servants. Your choices reveal which side you are on.
›
⚔️
Step 6
Fight / Ally
War or diplomacy. Every outcome is written on the map. Alliances leave monuments.
›
🌿
Step 7
Season Ends
8 weeks. The Echo arrives. A new threat reshapes the entire meta.
›
🔄
Step 8
Meta Shifts
Last season's dominant strategy fails. Every player adapts. No whale locks the server.
›
★
Forever
Your History Remains
No server merge. No wipe. Every battle, every bond, every monument. Permanent.
Steps 2–8 repeat every season — your bonds and history carry forward
LIVE
PHASE 1
LIVE
LIVE
PHASE 1
PHASE 2
PHASE 2
PHASE 2
ALWAYS
No competitor offers this loop. Every major SLG resets the world, sells power, and breaks alliances on merge day. Free Wars is the only mobile strategy game where Step 9 is guaranteed — your history, your bonds, and your legacy remain. Forever.
Retention & Loop Design

Solving 4X Strategy’s #1 Problem

Industry average D2 retention ~23% (Liftoff Mobile Gaming Apps Report 2024). We have mechanical answers and a 90-day loop.

23%

D2 Retention — Genre’s Weakness

Strategy genre D2 retention ~23% (Liftoff Mobile Gaming Apps Report 2024). Mid-core D30 benchmark is 6.8% (Adjust/AppsFlyer 2026). Our soft launch KPI gate of 8% D30 is deliberately set above the 6.8% mid-core average. Here are our mechanical answers.

Industry D1
26%
Mid-core benchmark
Adjust/AppsFlyer 2026
Industry D7
12%
Mid-core benchmark
Adjust/AppsFlyer 2026
Industry D30
6.8%
Mid-core benchmark
Adjust/AppsFlyer 2026
Our D30 Gate
8%
Above industry avg
Required before Tier 1 UA
90-Day Engagement Loop
Day 1–7
The Reckoning
Bond with first animal. Emotional investment before complexity.
Day 7–30
Alliance
Join faction. Inherit territory. First PvP. World history visible.
Day 30–56
Season
First Echo. Strategies fail. Adaptation required.
Day 56–90
Legacy
First monument. First scar. You are now part of history.
Risk: Whales lock server
Seasonal Meta Resets
Every 8 weeks reshapes viability. No composition dominates twice.
Risk: New player spiral
Faction Protection
New players enter inside protected territory with alliance defences from day one.
Competitive Landscape

Why Free Wars Wins

We solve every pain point driving players away from market leaders.

DimensionFree Wars ✶Last WarWhiteoutRise of Kingdoms
Emotional CoreBonded animals, permadeathNoneNoneLimited
MonetisationFair F2P · CosmeticsExtreme P2WHeavy P2WMixed
WorldNever resets · History on mapForced mergesTotal map resetKingdom merges
ThemeThe Awakening — unique IPZombieIce survivalHistorical
SeasonsEchoes — lore-driven resetsEvent rotationBasicKvK cycles
Key Insight: The emotional core is our moat. Competitors’ players optimise numbers. Free Wars players become emotionally invested. That cannot be copied without rebuilding from scratch.
Monetisation Engine

Fair F2P — Cosmetics First, Never P2W

Fair monetisation IS the product’s USP. Breaking this rule destroys the brand.

Season Pass35%
8-week premium track. Cosmetics, lore, QoL. Zero unit stats.
Hero Cosmetics25%
Skins, animal variants, base customisation. No gameplay advantage.
Speed-Ups20%
Build queue, march timers. Equivalent to 2–4 hrs of play.
Alliance Perks12%
Alliance skins, flags, monuments. Social identity.
Expansion Packs8%
New lore, hero arcs, seasonal content. No power creep.
Monetisation Philosophy
▶ The No P2W Rule
Zero unit stats sold. One violation destroys the brand permanently.
▶ Pain-Point Reversal = USP
Fair monetisation targets the #1 reason players leave competitors.
▶ Core Strategy LTV
Core players have 3–5× the LTV of casual. Lower volume, higher ARPU.
▶ Proven Precedent
Cosmetics-first at scale: Fortnite ($26B+ lifetime), Path of Exile, Warframe.
Development Status

From Concept to Code — What We Have Built

Free Wars is a live, server-authoritative 4X strategy game in active development on Unity 6. Not a mockup. Not a design document. A working technical foundation.

✓ Done — Working Right Now
🌐
Persistent Multiplayer World
Server-authoritative using Nakama on deployed VM. Authentication, cloud saves, and real-time RPCs are live. Two devices can interact on the same map simultaneously.
🏠
Base & World Grids
10×10 base grid + 50×50 world grid. Fully functional placement, movement, and upgrades wired to server.
🏛
26 Configurable Building Types
Each with upgrade UI, construction queues, and server-validated placement. Resource economy — four resources, collection, and upgrade logic fully implemented.
⚡
Unity DOTS / ECS Architecture — Technical Moat
Built on Unity DOTS and ECS for thousands of units without frame drops. The same performance layer used by AAA studios. This is a genuine technical moat — competitors cannot retrofit it.
📷
Cloud Dashboard & Telemetry
Live database dashboard tracking all player actions in real time. We have analytics and telemetry from day one. Dual-camera system with seamless Cinemachine base/world switch.
⚙ In Progress — Phase 1 Q3/Q4 2026
Stabilise ECS–MonoBehaviour Bridge
Ensures smooth building interactions and future unit combat system.
Server-Authoritative Building Lifecycle
Prevents cheating and enables fair F2P at scale.
Polish Base UX
Building panels, feedback loops. Day-1 retention depends on intuitive feel.
📅 Phase 2 — Live Ops Ready
Hero & sanctuary systems (emotional bond with animal armies)
Combat loop & power scoring · Alliance mechanics & diplomacy
Seasonal Echo events · Monetisation (cosmetics, lore packs, speed-ups — no stat boosts)
The Investor Summary: Most pre-seed game pitches have a Figma prototype. Free Wars has a server-authoritative multiplayer world, a live cloud dashboard, and a DOTS/ECS architecture that scales to thousands of concurrent players. The hard technical problems are solved. Now we are layering the emotional features — the bond system, the permanent world — on top of a rock-solid foundation.
Technology & Scalability

Built to Scale — Architecture That Grows With the Game

Every major technical decision was made with a persistent world MMO in mind from day one.

Server Layer
Nakama — open-core, battle-tested real-time game server. Used by published MMOs globally. Handles auth, cloud saves, real-time RPCs, matchmaking, and social features out of the box.

Server-authoritative architecture means all game state lives on the server. No client-side exploits. No speed hacks. No cheating. The foundation of fair F2P.
Performance Layer
Unity DOTS / ECS — Data-Oriented Technology Stack. Not used by most indie studios because it is technically demanding. We implemented it from the start.

Result: thousands of units, buildings, and map entities rendered simultaneously without frame drops. The performance ceiling is vastly higher than traditional GameObject-based MMOs.
Data Layer
Cloud Database with live dashboard. All player actions logged and queryable in real time. We have telemetry, analytics, and exploit detection infrastructure live before we have paying players.

This means we can measure D1, D7, D30 retention from the first closed beta. No guessing.
Technical ChallengeOur SolutionWhy It Matters
State synchronisation across devicesNakama server-authoritative RPCsSolved. Two devices on same map today.
Performance at scale (1000s of units)Unity DOTS / ECS architectureSolved. Profiler data available on request.
Permanent world data storageCloud database with persistent stateSolved. Map state survives server restarts.
Anti-cheat for fair F2PServer-authoritative validation on all actionsBuilt in. No client trust.
Scalability from 1K to 100K playersNakama horizontal scaling + cloud VMNakama is designed for this. Budget in Phase 2.
Risk & Mitigation

Known Risks — Honest Assessment & Mitigation Plan

Every serious investor asks about risk. We have identified the real ones and built specific mitigations into the plan.

RiskDescriptionMitigationStatus
No live-ops MMO experienceTeam has shipped simulator games. Nobody has operated a live MMO with 50K+ DAU for over a year.Live Ops advisor / producer to be hired in Phase 1. Budgeted. Justin Stolzenberg (Metica, Phoenix Games, flaregames) in active advisory conversation.In Progress
Permanent world power disparityEarly players could dominate the map permanently, blocking new player growth.Seasonal territory resets every 8 weeks. Hero levels and bonds carry over. Land resets. Hard caps on resource stockpiling. Faction protection zones for new players.Designed
Retention unproven at scaleNo closed beta data yet. D2/D7/D30 projections are based on benchmarks not measured performance.Phase 1 soft launch in Tier 3 markets (Vietnam, Brazil) at low CPI validates retention before £120,000 Tier 1 UA spend. Phase 2 KPI gate: D30 ≥ 28% required before global launch.Gated
Larger studio copies the modelA well-funded competitor adds cosmetics-only and permanence.Permanence cannot be retrofitted — it requires rebuilding server architecture from scratch. Current leaders have millions of players on merge-dependent systems. DOTS/ECS performance layer is a genuine technical moat.Structural
UA costs exceed projectionsCPI in Tier 1 markets increases or conversion rate underperforms.15% contingency in Phase 2. Soft launch CPI data from Tier 3 informs Tier 1 spend before committing. UA budget can be redirected to lower-CPI markets if needed.Buffered
Seasonal resets frustrate casual playersPlayers who cannot complete seasonal content before reset become frustrated and churn.Hero levels, bonds, and gear carry over permanently. Only territory resets. Players keep their identity and progression — only their land position changes. Separate casual-paced content track planned for Phase 2.Designed
Our Philosophy: We have identified every risk we can think of and built a specific answer to each one. The risks we cannot fully mitigate — live ops experience and retention validation — are addressed by the staged structure of the investment itself. Phase 2 only unlocks when Phase 1 proves the game retains players.
Monetisation Model

How Free Wars Makes Money Without P2W

Fair free-to-play is not charity. It is a proven model that generates more revenue per player over a longer period than pay-to-win.

Our Revenue Streams — Zero Unit Stats Sold
Season Pass35%
£8–12 per player per 8-week season. Cosmetics, lore, QoL features. Zero unit stats. Players pay for experience not advantage.
Hero & Animal Cosmetics25%
Skins, animal variants, base aesthetics. Players spend on identity not power. No gameplay advantage.
Speed-Ups20%
Build queue and march timers. Saves time. Free and paying players are equally powerful in combat.
Alliance Perks12%
Flags, monuments, alliance identity. Social status spending — highest conversion category in strategy games.
Expansion Packs8%
New lore, hero arcs, seasonal content. No power creep. Content not competitive advantage.
Proven Precedents — Fair F2P at Scale
Fortnite
Zero pay-to-win. Cosmetics only.
$26B+
Path of Exile
10+ years. Cosmetics and stash tabs.
$100M+ pa
Warframe
10+ years. Zero pay-to-win.
$100M+ pa
The Key Insight: Strategy players have the highest repeat purchase rate of any mobile genre. They do not need to be coerced. They spend because they are invested in the world. Our permanent world, bond system, and seasonal Echoes create that investment. A player who loves the world pays for cosmetics. A player who feels cheated leaves and never comes back.

The No P2W Rule is not a constraint. It is our acquisition strategy. Every frustrated player who leaves Last War because of pay-to-win is a potential Free Wars player.
User Acquisition & Unit Economics

UA Model — Realistic 2026 Assumptions

Three-stage model. Every UA pound is performance-gated. No Tier 1 spend until Tier 3 retention is proven.

MetricSoft LaunchEarly ScaleMature Scale
Primary MarketsBrazil, Vietnam, TurkeyUS, UK, GermanyGlobal
CPI Range£0.30–£1.20£2.50–£5.00£4.00–£7.50
D1 Retention30–38%32–40%35–42%
D7 Retention12–18%14–20%16–22%
D30 Retention6–10%8–12%10–15%
Paying Conversion2–4%3–5%4–6%
Monthly ARPPU£16–£32£28–£50£40–£75
Blended LTV / Install£1.20–£3.20£3.20–£7.20£6.40–£14.40
Payback WindowNot expected12–18 months9–15 months
iOS vs Android — Platform Economics (Digital Applied 2026)
MetriciOSAndroidStrategy Implication
Mid-Core CPI 2026$5.96$2.04Soft launch Android-first — 3x more data per pound
iOS CPI YoY Growth+19%+8%CPI inflation reinforces Android-first soft launch
12-Month ARPU$5.84$3.21iOS ARPU 1.8x Android — justifies higher CPI at scale
ATT Opt-In Global 202627% global · 31% US · 38% JPN/AiOS attribution variance 12–18% — model two layers
UA StrategyiOS-weighted at scaleAndroid-first at launchPlatform shift as retention proof matures
UA Strategy: Soft launch Android-first in Tier 3 at $2.04 CPI — 3x more installs per pound than iOS. Only unlock Early Scale after D7 ≥ 14% and D30 ≥ 8% confirmed. Tier 1 shifts iOS-weighted where $5.84 ARPU justifies $5.96 CPI. Total UA: £390,000 — £40K Phase 1 + £350K Phase 2.

Sources: Digital Applied Mobile App Marketing Statistics 2026 — Adjust 2026 Benchmark Report · AppsFlyer Performance Index 17 · Sensor Tower Store Intelligence 2026 · data.ai App IQ
Effective CAC Note: CPI = cost per install. CAC per paying user = CPI ÷ Conversion Rate. At Android soft launch CPI $2.04 and 3% conversion: CAC per paying user = $68. At $40 ARPPU and 10-month retention: LTV = $400. LTV:CAC = 5.9:1 at soft launch. At Tier 1 iOS CPI $5.96 and 4% conversion: CAC = $149. At $50 ARPPU and 12-month retention: LTV = $600. LTV:CAC = 4:1 at scale — above 3:1 healthy threshold.
Investment Discipline

Every UA Pound Is Performance-Gated

We do not scale on hope. Every market, creative, and cohort is measured before budget increases.

StageBudgetRequired KPI SignalStatus
Closed Beta£10K–£25KD1 ≥ 30% · Tutorial completion ≥ 65%Phase 1
Soft Launch£60K–£100KD7 ≥ 14% · D30 ≥ 6–8%Phase 1
Monetisation Validation£100K–£200KPayer conversion ≥ 3% · ARPPU stability confirmedPhase 2
Tier 1 Expansion£250K+Improving cohort ROAS · Stable retention across marketsPhase 2
Global ScaleGrowth roundProven long-term payback · Positive unit economics at scaleSeries A
Why This Matters
The mobile gaming graveyard is full of studios that scaled before their retention was proven. Every stage in this model is gated — meaning budget only unlocks when the data justifies it. This protects the investor's capital and ensures every pound is working before the next pound is deployed.
The £1M Allocation Logic
Closed Beta + Soft Launch UA£40,000
Monetisation Validation UA£60,000
Tier 1 Market Validation£60,000
Reserved — KPI gated release£0 until earned
Investor Assurance: Phase 2 global UA spend of £350,000 is the largest single allocation in the budget. It does not release until Phase 1 KPI gates are met. If the game does not retain players at D30 ≥ 8%, that money stays protected.
Financial Strategy

Two Paths to Launch — Same £1M

Both models are viable. One delivers significantly more runway, marketing, and contingency.

Model A — Pure UK (Manchester)
£1,500,000
Team Size4 → 13 (staged)
Monthly Burn~£42,000
Runway20 months
UA Budget£240,000
Contingency£180,000
DeliverableMVP → Global Launch
RECOMMENDED
Model B — Hybrid (UK + Overseas)
£1,500,000
UK Team3–4 (leadership)
Overseas Dev8–12 (dev, art, QA)
Monthly Burn~£15k–£20k
Runway28+ months
UA Budget£330,000
Contingency£315,000
DeliverableMVP → Global + runway
MetricModel AModel B
Monthly Burn~£42k~£15–20k
Runway18 mo24+ mo
Marketing£160k£220k (+38%)
Contingency£120k£210k (+75%)
IP OwnershipGreenTech (UK)GreenTech (UK)
Dev RiskLowerModerate
EfficiencyGoodExceptional
Investor Note: Both deliver the same product. Hybrid provides 35% more runway, 38% more marketing, 75% more contingency. Execution model to be agreed with investor.
Use of Funds

£1.5M · 18-Month Roadmap

Two-phase structure. Phase 2 gated on Phase 1 retention KPIs.

Phase 1 · MVP → Soft Launch
£550,000
Months 0–12
Team (4→8, 12mo)£300,000
Infrastructure£80,000
Art & Audio£60,000
Legal & Ops£20,000
Soft Launch UA£40,000
Contingency£50,000
Phase 2 · Soft Launch → Global
£950,000
Months 12–18
Team (8→13, 6mo)£150,000
Server Scaling£40,000
Art & Content£70,000
Global UA£350,000
Live Ops£50,000
Contingency£270,000
KPI Gates: D30 ≥ 28% · DAU target · Monetisation validated in Tier 3 before Tier 1 spend.
The Ask

£1,500,000 · 20% Equity · £7.5M Post-Money

Below-market salaries, staged hiring, lean operations. Model to be agreed with investor.

Strategic Investor
£1,500,000
Equity22–25%
Post-Money£6M–£6.75M
RightsBoard + Pro-rata + Advisory
ANCHOR ROUND
Anchor Investor
£1,500,000
Equity20%
Post-Money£7,500,000
RightsBoard + Pro-rata
DeliverableMVP → Global · 18–24mo
Comp£5M–£12M seed ✓
The Genre
$17.5B
Strategy revenue 2025. 20% YoY.
The Window
−65%
Leader decline. Players leaving.
Efficiency
Capital Efficient
Lean UK studio. Every euro working.
Revenue Projections

Revenue Trajectory — Year 1 to Year 5

Conservative projections based on verified industry benchmarks for conversion, ARPPU, and CPI.

Year 1
£72K–£540K
Soft Launch
Year 2
£648K–£2.9M
Global
Year 3
£2.7M–£10.6M
Growth
Year 4
£7.7M–£21.8M
Maturity
Year 5
£14.4M–£43.2M
Scale
YearMAU RangeConv.ARPPU/MoMonthly RevAnnual Rev
Yr 120K–40K2–3.5%£16–£32£6K–£45K£72K–£540K
Yr 275K–150K3–4%£24–£40£54K–£240K£648K–£2.88M
Yr 3200K–400K3.5–5%£32–£44£224K–£880K£2.7M–£10.6M
Yr 4400K–700K4–5%£40–£52£640K–£1.82M£7.7M–£21.8M
Yr 5700K–1M+4–6%£44–£60£1.2M–£3.6M£14.4M–£43.2M
2–6%
Conversion Range
3.5:1
LTV:CAC at Maturity
0.006%
Yr 5 Market Share
Projections based on Sensor Tower, data.ai, IGG benchmarks. Not guaranteed. ARPPU benchmarked against strategy genre average of $15–$25/month (Sensor Tower 2025). Ranges reflect conservative to base-case scenarios. Year 1→2 MAU growth driven by: App Store featuring, community referrals, word of mouth, and 46% of loyal players referring 3+ friends (Mistplay 2025). Year 1 is validation — commercial story begins Year 2. At 1M MAU Year 5, Free Wars = 0.006% of total strategy player base.
Investor Returns

The Return — What £1M Becomes

Three scenarios based on conservative revenue multiples standard for mobile gaming.

ScenarioYr 3 ARRMultipleValuationReturn (20%)ROI
Conservative£1.5M–£3M5×£7.5M–£15M£1.5M–£3M1.5–3×
Base Case£3.89M–£5M6×£23M–£30M£4.6M–£6M4.6–6×
Upside£8M–£12M8×£64M–£96M£12.8M–£19.2M13–19×
Doomsday Yr 1
~$90M
IGG — established studio, large UA budget. Source: Sensor Tower 2024.
Last War Yr 1
~$400M+
$2.6B lifetime. Genre ceiling proof. Source: Sensor Tower 2026.
Free Wars Base
£3.89M–£5M
Year 3 range. 0.03% of genre revenue. Consistent with revenue model.
Key Point: Free Wars does not need to become a market leader. At base case, 0.03% of genre revenue generates 4.6–6× return on £1.5M within 36 months. Base case return: £4.6M–£6M. Upside: £12.8M–£19.2M. Revenue multiples benchmarked against Konvoy Ventures Mobile Gaming M&A Report 2024.

Scenarios based on assumptions. Not guaranteed. Multiples benchmarked against mobile gaming M&A 2023–2025.
“The world ended. Something else began.
We are building the strategy game players have been waiting for.
Not competing on budget.
Competing on capital efficiency and emotional connection.”
FREE WARS: THE FIRST AGE
GreenTech Games Ltd · Manchester, UK · 2026
$17.5B
Genre Revenue
−65%
Leader Declining
6×
Base Case ROI
18–24mo
Runway
20%
Equity · £5M
info@greentechgames.co.uk
“Ten years. Two platforms. Skin in the game since day one. While others were theorising, we were shipping — real games, real stores, real players. A lean UK-led studio with below-market founder salaries and the discipline to make every pound count. The market is ready. The window is open. And we are exactly the team built for this moment.”