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Abu Dhabi's Ruya invests $20m in Saudi Arabia's Energia

RIYADH: Saudi Arabian temporary power solutions provider Energia has secured SR75 million ($20 million) from Abu Dhabi-based private credit firm Ruya Partners, as it aims to acquire new assets and refinance its near-term maturities. According to a press release, the raised capital will also help Energia to focus on its growth initiatives, including sustainable and green energy ....

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Disconnecting water connections: Industrialists, hotel owners complain against KW&SB

KARACHI: Industrialists and hotel owners have complained to CM Sindh against the officials of Karachi Water and Sewerage Board s Anti-Theft Cell. ....

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Starzplay eyes IPO by 2024 amid plans to double its business

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Dubai-based Starzplay, the Middle East and North Africa s fastest-growing video streaming service, is eyeing an initial public offering by 2024, propelled by a surge in demand during the pandemic.
The move is part of wider growth plans to double its revenue and subscribers within three to four years, Maaz Sheikh, co-founder and chief executive of Starzplay, told
The National.
Revenue grew 50 per cent year-on-year in 2020, he said, declining to disclose current or target amounts. It ended the year with 1.83 million subscribers and is targeting nearly 4 million by 2024.
We realised that what we ve accomplished so far, though extensive, is scratching the surface, Mr Sheikh said. There s a lot more growth in the region and a lot more opportunity to come. ....

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STARZPLAY secures debt financing of US$25 million from Ruya Partners

STARZPLAY secures debt financing of US$25 million from Ruya Partners
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- STARZPLAY will use additional funds to focus on strengthening its geographic and customer reach, acquisition and production of original content
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Strong capital base achieved through the financing will support STARZPLAY s growth ambitions through to a potential IPO
DUBAI, UAE, Feb. 3, 2021 /PRNewswire/ STARZPLAY, the Middle East and North Africa s leading subscription video on demand (SVOD) service, received its first independent debt financing in the region of US$25 million from Abu Dhabi-based Ruya Partners.
(R-L): Maaz Sheikh, Co-Founder & CEO of STARZPLAY; Karin Baggström, Co-Founder & CFO of STARZPLAY; Rashid Siddiqi, Co-Founder & Managing Partner of Ruya Partners; and Mirza Beg, Co-Founder & Managing Partner of Ruya Partners. ....

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STARZPLAY raises $25 million in debt financing

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. ....

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