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Case Study: Soloband

Grew UA spends by 260% in 5 months while maintaining stable cohort performance

Cyprus-based studio Soloband Games partnered with PvX to scale user acquisition for its flagship casual merge-puzzle title World Tour Merge: Merging Game.

Jul 25, 2025 - 5 mins

Soloband is a Cyprus-based studio specializing in light, creative, and accessible merge-puzzle titles. World Tour Merge — their flagship game — blends classic merge mechanics with travel-adventure themes, delivering a relaxed, exploration-driven experience that has already attracted over 380,000 downloads. Backed by leadership experience from Playrix, Playgendary, and Melsoft, the Soloband team combines strong product intuition with a sharp eye for category trends.

Are These Cohorts Good or Great?

Like most studios operating in the hyper-competitive merge-puzzle category, Soloband knew that strong early metrics are not enough. What matters is how cohorts benchmark against the broader market and how stable they remain as UA spend scales.

To answer that question with precision, Soloband integrated their data into PvX Lambda for a full cohort and volatility assessment.

The results were clear:

Top-quartile Incremental Net ROAS compared against

This combination of high performance and stability, indicated that World Tour Merge had the fundamentals needed for sustained scale.

Choosing the Right Type of Capital

By mid-2025, Soloband’s UA ambitions were growing quickly. They needed a financing structure that could scale with them but without jeopardizing ownership or taking on inflexible repayment obligations.

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“PvX Partners has helped us grow our UA budget very quickly over the past 5 months without putting incremental risk to the company and allowing us to retain ownership of the business. We are happy that we could be this aggressive as our metrics are performing well despite the rapid scaling.”
- Aleksandr Kislitsyn, CEO of Soloband
Why Not More Venture Capital?

A traditional VC equity fundraise was an option as they had done in the past but it came with trade-offs the founders wanted to avoid:

Like many studios that reach product-market-fit, Soloband realized that selling equity to fund UA was structurally inefficient. When you already have strong, predictable cohorts, the capital you use should have a predictable cost.

Why UA Financing Was the Better Fit

Soloband chose PvX Capital because it delivered exactly what the team needed:

The founders wanted a partner who would share risk and who could keep up with the momentum their game was already demonstrating.

Scaling Successfully & Resizing the Credit Line

PvX initially provided a $4M line of credit, calibrated to Soloband’s proven cohort performance.

What happened next validated the thesis:

Based on this performance, PvX Capital and Soloband mutually agreed to expand the line of credit to $12M — allowing World Tour Merge to fully capitalize on its momentum.

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CLIENTSoloband
INDUSTRYCasual Merge Puzzle Games
LOCATIONCyprus
FOUNDED2023
EMPLOYEES11-50
LIFETIME DOWNLOADS1.1M+
Deal Profile
APP TITLES
World Tour Merge: Merging Game
FACILITY SIZE
$4,000,000
COHORT HISTORY
9 months
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