Pegasus Spiele

Name

Pegasus Spiele

Legal name

Pegasus Spiele Verlags- und Medienvertriebsgesellschaft mbH

Website

https://pegasus.de

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Board Games

NAICS

Hobby, Toy, and Game Retailers (45912)

SIC

Retail-Hobby, Toy & Game Shops (5945)

akta.pro primary industry

Board Game & Puzzle Specialty Retailers (CRALALAA)

akta.pro secondary industries

Hobby Games & Miniatures Retail (Tabletop RPGs, Wargaming) (CRALAFAH), Full-Service Game Publishers (1st/2nd/3rd-Party Publishing) (MPAFABAA)

Keywords

• Board game publishing
• Tabletop game distribution
• Card game publishing
• Role-playing games
• Hobby games

Headquarters

HQ city

Friedberg

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Board Game Publishing and Sales: Pegasus Spiele publishes and sells physical board games, card games, role-playing games, dice games, and accessories. Revenue is generated through direct retail sales via their e-commerce platform and through distribution partnerships with retail outlets. The company acts as both publisher for its own titles and distributor for partner publishers.
2. Publishing Services for Partner Publishers: Pegasus Spiele serves as a wholesale distributor for numerous other game publishers including Abacusspiele, Cartamundi, Dice4Friends, Hidden Games, Jumbo Spiele, KOSMOS, Kylskåpspoesi, Skellig Games, Strohmann Games, and TOPP Verlag. These partner products are sold alongside Pegasus titles.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Pegasus Spiele publishes and sells physical board games, card games, role-playing games, dice games and accessories under its own brands and sub-brands (Strohmann Games, TOPP Verlag). The company acts as both publisher for its own titles and wholesale distributor for numerous partner publishers (Abacusspiele, Cartamundi, Dice4Friends, Hidden Games, Jumbo Spiele, KOSMOS, Kylskåpspoesi, Skellig Games, Strohmann Games, TOPP Verlag). Select titles integrate a companion mobile app for hybrid digital-analog gameplay, most notably Boss Fighters QR, which uses QR code scanning to drive app-controlled boss mechanics.

Product overview

Pegasus Spiele is a German board game publisher and distributor offering a diverse portfolio of physical tabletop games. The core product portfolio includes award-winning board games such as Dorfromantik (Spiel des Jahres 2023), Living Forest (Kennerspiel des Jahres 2022), and Bomb Busters (Spiel des Jahres 2025). The company publishes Boss Fighters QR, a hybrid game combining physical cards with companion app mechanics using QR code scanning. Additional offerings span card games, children's games, role-playing games (including Cthulhu and Daggerheart), party games, and puzzle games. Sub-brands include Strohmann Games (localizing foreign games like Planet Unknown and Fantastische Reiche) and TOPP Verlag (creative party and family games including Krakel Orakel). The company also distributes products from partner publishers including Abacusspiele, Cartamundi, Dice4Friends, Hidden Games, Jumbo Spiele, KOSMOS, and others. Digital offerings include the Teburu platform for hybrid gaming and Pegasus Digital for role-playing PDFs.

Differentiator

Problem solved

Functional benefit

Brands

• TOPP Verlag: Creative ideas, original game concepts and entertaining games for the whole family. Known for Krakel Orakel, nominated for Spiel des Jahres 2025.

Products and services

• Boss Fighters QR (German and English editions) Cooperative hybrid board game with companion app for 2–4 players aged 10+, combining hero and class decks with QR code scanning that triggers app-controlled boss responses. Features 10 unique bosses with variable difficulty (beginner to expert), and is part of the hybrid analog-digital lineup that drives Pegasus' app-integrated publishing initiative.
• Dorfromantik - Das Brettspiel Tile-laying board game in which players build a peaceful landscape by placing hexagonal tiles representing rivers, forests, wheat fields and villages. The flagship family title that won Spiel des Jahres 2023.
• Living Forest Push-your-luck Kennerspiel where players race to grow trees and protect the forest from fire. Awarded Kennerspiel des Jahres 2022.
• Bomb Busters Cooperative family board game featuring bomb-defusal mechanics in which players work together to disable bombs. Awarded Spiel des Jahres 2025.
• Hopp Hopp Häschen Children's board game for ages 3+ designed by Reiner Knizia, featuring 20 wooden rabbit pieces and a colour die, where players guide rabbits to daylight.
• Cthulhu Rollenspiel Horror tabletop role-playing game series based on H.P. Lovecraft's Cthulhu Mythos, with German-language rulebooks, starter sets, and campaign modules including the limited hard-cover campaign book Cthulhu: Kinder der Furcht.
• MiniCrimes Cooperative detective card-game series of deductive puzzles in which each case contains a large crime-scene map and ten clue cards; cases are independently playable and follow a season-based release cadence.
• Daggerheart (German edition) German-language edition of the Daggerheart tabletop role-playing game, published in partnership with Darrington Press, with a launch event hosted at FUNtainment Berlin.
• Veggie Crash Fast-paced vegetable-trading card game for 2–6 players aged 8+ where players speculate on produce prices; includes 58 cards and a scoring pad with simple rules.
• Quizcarraldo's Pub Quiz Picture-based quiz game with 200 picture riddles across the categories Movies & Series, Music Artists, Songs & Albums, and Books & Stories; designed for 1–12 players aged 16+.
• Käpt'n Kuck Children's board game recommended for Kinderspiel des Jahres 2025.
• Planet Unknown Adaptive planet-building strategy board game localised for the German market under the Strohmann Games sub-brand; nominated for Kennerspiel des Jahres 2023 and winner of Deutscher Spielepreis 2023.
• Fantastische Reiche German-market fantasy strategy board game released through the Strohmann Games sub-brand; nominated for Kennerspiel des Jahres 2021.

Quantifiable outcome

• Spiel des Jahres 2023 (Dorfromantik) and 2025 (Bomb Busters) winners
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

14 partnerships are on record, tiered minor and core.

• Deep Print GamesminorStrategic or Co-development Partner · 1 January 2026Deep Print Games publishes Wine & Cheese, a culinary showdown game. Pegasus Spiele distributes this title in German markets.
• Florian Feith (App Developer)coreTechnology or Integration · 1 January 2025Software programmer and game developer who developed the Boss Fighters QR companion app. Described as a player and family father who contributed not only implementing design wishes but also made original suggestions. Key to the hybrid digital-analog game experience.
• Darrington PresscoreStrategic or Co-development Partner · 1 January 2024Darrington Press is the publisher of Daggerheart, a tabletop role-playing game. Pegasus Spiele publishes the German edition of Daggerheart, with a release party event featuring designers Rowan Hall and Spenser Starke. This is a significant partnership for bringing TTRPG content to German-speaking markets.
• TOPP VerlagcoreChannel Partner/ Reseller/ Distributor · 1 January 2023TOPP Verlag is a creative game publisher focused on party games, family games, and puzzle/riddle games. Known for the success of Krakel-Orakel, which was nominated for Spiel des Jahres 2025, elected as Generationenspiel 2025, and translated into over 17 languages.
• Strohmann GamescoreChannel Partner/ Reseller/ Distributor · 1 January 2020Strohmann Games is a subsidiary brand focused on localizing successful international board games for German-speaking markets. Founded in 2020, the company specializes in bringing acclaimed foreign games to German audiences. Notable titles include Planet Unknown (Kennerspiel 2023 nominee, Deutscher Spielepreis winner), Fantastische Reiche (Kennerspiel 2021 nominee), and Terraforming Mars.
• AbacusspieleminorChannel Partner/ Reseller/ DistributorPartner publisher whose games are distributed through Pegasus Spiele's wholesale channel alongside Pegasus titles.
• KOSMOSminorChannel Partner/ Reseller/ DistributorMajor German game publisher whose products are distributed through Pegasus Spiele's wholesale channel.
• Jumbo SpieleminorChannel Partner/ Reseller/ DistributorPartner publisher whose games are distributed through Pegasus Spiele's wholesale channel alongside Pegasus titles.
• CartamundiminorChannel Partner/ Reseller/ DistributorPartner publisher whose games are distributed through Pegasus Spiele's wholesale channel.
• Dice4FriendsminorChannel Partner/ Reseller/ DistributorPartner publisher whose games are distributed through Pegasus Spiele's wholesale channel.
• Hidden GamesminorChannel Partner/ Reseller/ DistributorPartner publisher whose games are distributed through Pegasus Spiele's wholesale channel.
• KylskåpspoesiminorChannel Partner/ Reseller/ DistributorPartner publisher (Swedish) whose games are distributed through Pegasus Spiele's wholesale channel.
• Skellig GamesminorChannel Partner/ Reseller/ DistributorPartner publisher whose games are distributed through Pegasus Spiele's wholesale channel.
• FUNtainment BerlinminorStrategic or Co-development PartnerEvent venue partner hosting the Daggerheart release party on July 7 in Berlin. Physical retail/event space for tabletop gaming events.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Ravensburger: Germany's largest and most established board game and puzzle publisher, with a deep family-game portfolio and global distribution. Ravensburger competes head-to-head in the family and strategy board game segments where Pegasus is most active, but operates at significantly larger scale.
• Asmodee: Global board game publisher and distributor (parent of many studio labels) with extensive reach across hobby and family board games. Asmodee competes in the same core categories as Pegasus but with substantially larger portfolio, capital, and international footprint.

Direct peers

• CMON (Cool Mini Or Not): Publisher of hobby board games including Zombicide and Marvel United. CMON competes in the Kennerspiel/Expertenspiel segments where Pegasus has titles like Living Forest, though it skews more toward miniatures-heavy products.
• Stonemaier Games: Independent US-based board game publisher of titles like Wingspan and Scythe. Comparable to Pegasus as an independent, designer-driven publisher with strong consumer brand recognition, though operating primarily in English-language markets.
• KOSMOS: Major German board game publisher whose products are distributed through Pegasus's wholesale channel. KOSMOS publishes award-winning family, strategy, and science/experiment games in the same DACH market as Pegasus, with comparable audience and channel overlap.
• Lookout Games: German publisher of strategy and family board games including Patchwork and Cottage Garden. Lookout Games is a similarly sized German-language publisher with comparable target audience and award exposure.
• Strohmann Games: Sub-brand of Pegasus Spiele that localizes foreign games for German-speaking markets (Planet Unknown, Fantastische Reiche). Operates as both internal division and a localized-publishing peer model within the broader German board game industry.
• Hans im Glück: German publisher best known for publishing Carcassonne in German-speaking markets. Hans im Glück is a similarly sized German publisher focused on quality strategy and family games with strong award pedigree, making it a close functional peer to Pegasus.
• HeidelBÄR Games: German publisher specializing in quality family and strategy games with strong distribution in German-speaking markets. HeidelBÄR is a comparable-sized German publisher competing in the same hobby game category as Pegasus.

Others

• Darrington Press: Publisher of Daggerheart and other Critical Role TTRPG products, currently partnered with Pegasus for German editions. Comparable as a tabletop publisher, though focused on RPGs rather than board games, and operates as a publishing partner rather than competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/pegasusspiele
• YouTubeyoutube.com/pegasusspiele
• Facebookfacebook.com/pegasusspiele
• Instagraminstagram.com/pegasusspiele

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pegasus Spiele