MENA Streamer Starzplay Secures $25M Debt Funding – Deadline
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, secured on the basis of the company’s financial strength and performance, will be used to strengthen the geographic reach and customer base of the service, as well as to acquire and produce original content.
Starzplay has over 1.8 million paid subscribers and is installed on over six million devices. The company claims to have a 32% market share in its region.
The company was previously launched with a $125 million investment from Starz and Lionsgate-owned State Street Global Investors.
“We are delighted to partner with Ruya Partners and secure its first investment. This new partnership demonstrates our ability to attract diverse, blue-chip institutional investors as we continue to drive growth and deliver profitability,” said Maaz Sheikh, co-founder and CEO of Starzplay. “The UAE’s strong technology and 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 region’s digital champion. MENA.”