STARZPLAY raises $25 million in debt financing
UAE-based subscription and on-demand video service (SVOD) STARZPLAY, has secured a $25 million debt financing round from Abu Dhabi-based Ruya Partners, an independent alternative investment firm focusing on private credit investments in developing markets.
STARZPLAY now reaches over 1.8 million in 20 countries across the Middle East, North Africa and Pakistan (MENAP) paying subscribers and has been installed on over six million devices. With a market share of more than 32 per cent, the company claims to have recorded exceptional growth in 2020, including 141 per cent growth in number of unique users.
The funding will be used to expand the company’s customer and geographical reach, and acquire and produce original content.