Starzplay, a number one streaming service within the Center East and North Africa, has secured its first unbiased debt financing with a $25M injection from Abu Dhabi-based Ruya Companions.
The funds, secured on the premise of the corporate’s monetary energy and efficiency, can be used to strengthen the service’s geographic and buyer attain, and purchase and produce authentic content material.
Starzplay has greater than 1.8 million paying subs and is put in on greater than six million gadgets. The corporate says it has a 32% market share in its area.
The corporate beforehand launched with $125M funding from the Lionsgate-owned Starz and State Avenue International Buyers.
“We’re delighted to accomplice with Ruya Companions and safe its first funding. This new partnership demonstrates our potential to draw various, top-notch institutional buyers as we proceed to drive progress and guarantee a path to profitability,” mentioned Maaz Sheikh, Co-Founder and CEO of Starzplay. “UAE’s robust tech-entrepreneurial ecosystem, and this new funding will additional strengthen Starzplay’s capability to create authentic content material, broaden our geographical footprint and cement our lead standing because the MENA area’s digital champion.”