Starzplay, a leading streaming service in the Middle East and North Africa, secured its first independent debt financing with a $ 25 million injection from Abu Dhabi-based Ruya Partners.
The funds, guaranteed on the basis of the financial strength and performance of the company, will be used to strengthen the geographic and customer reach of the service, and to acquire and produce original content.
Starzplay has over 1.8 million paid subscriptions and is installed on over six million devices. The company claims to have a 32% market share in its region.
The company had previously launched with a $ 125 million investment from Starz and State Street Global Investors, owned by Lionsgate.
“We are delighted to partner with Ruya Partners and secure their first investment. This new partnership demonstrates our ability to attract diverse and blue chip institutional investors as we continue to drive growth and secure a path to profitability, ”said Maaz Sheikh, co-founder and CEO of Starzplay. “The UAE’s strong technological and entrepreneurial ecosystem, and this new investment will further strengthen Starzplay’s ability to create original content, expand our geographic footprint and solidify our leadership status as a digital champion of the MENA region.