Starzplay, the on-demand video streaming service for the MENA region, has secured $25 million in debt financing from Abu-Dhabi’s Ruya Partners.
“We are delighted to partner with Ruya Partners and secure its first investment,” says Maaz Sheikh, co-founder and CEO of Starzplay. “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.”
With more than 10,000 hours of content including blockbuster movies, exclusive TV shows, kids content, and Arabic series, Starzplay is available in 20 countries across MENA and Pakistan. Starzplay currently reaches over 1.8 million paying subscribers and is installed on more than six million devices.
They recently partnered with Discovery Inc. to launch discovery+, the definitive non-fiction, real-life subscription streaming service across the region. Subscribers can now watch discovery+ content within a dedicated branded area across all its platforms. Starzplay also joined hands with Abu Dhabi Media to stream live UFC events and give subscribers across the region an extensive VOD content library of previous fights, shows, and interviews.
“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,” adds Sheikh. “Thanks to Ruya Partners’ investment and our current shareholders, we have the foundation on which to build our plans to list Starzplay, and create even more shareholder value.”
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