Starzplay, a leading streaming service in the Middle East and North Africa, has secured its first independent debt financing with a $25M 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 service’s geographic and customer reach, and acquire and produce original content.
Starzplay has more than 1.8 million paying subs and is installed on more than six million devices. The company says it has a 32% market share in its region.
The company previously launched with $125M investment from the Lionsgate-owned Starz and 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, top-notch institutional investors as we continue to drive growth and ensure a path to profitability,” said Maaz Sheikh, Co-Founder and CEO of Starzplay. “UAE’s strong tech-entrepreneurial ecosystem, and this new investment will further strengthen Starzplay’s capacity to create original content, expand our geographical footprint and cement our lead status as the MENA region’s digital champion.”
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