Starzplay, a leading streaming service in the Middle East and North Africa, has secured its first independent debt financing with a $ 25 million donation from Ruya Partners of Abu Dhabi.
Funds secured on the basis of the company’s financial strength and performance will be used to strengthen the geographic reach and customer reach of the service and to acquire and produce original content.
Starzplay has more than 1.8 million paying subs and is installed on more than six million devices. According to its own information, the company has a market share of 32% in its region.
The company previously started with a $ 125 million investment from Lionsgate’s own Starz and State Street Global investors.
“We are very excited to be working with Ruya Partners and securing the first investment. This new partnership demonstrates our ability to attract a variety of world class institutional investors as we continue to drive growth and ensure a path to profitability, ”said Maaz Sheikh, Co-Founder and CEO of Starzplay. “The UAE’s strong tech-entrepreneurial ecosystem and this new investment will further strengthen Starzplay’s ability to create original content, expand our geographic footprint and cement our leadership status as the MENA digital champion.”
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