Starzplay secures Middle Eastern finance

(R-L) Maaz Sheikh; Karin Baggström, co-founder and CFO of Starzplay; Rashid Siddiqi, co-founder and managing partner of Ruya Partners; and Mirza Beg, co-founder and managing partner of Ruya Partners

Lionsgate-backed streamer Starzplay has secured debt financing of US$25m from Abu Dhabi-based investment firm Ruya Partners.

The funds will be put towards further strengthening the SVoD platform’s geographic and customer reach in the Middle East, acquiring and producing original content and maximising long-term value for its stakeholders.

Since its launch in 2015, Starzplay has also received a US$125m investment from Starz, a Lionsgate company, and State Street Global Advisors.

Maaz Sheikh, co-founder and CEO of Starzplay, said: “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. 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.”

StarzPlay recently partnered with US factual giant Discovery to launch its new factual streamer Discovery+ across MENA.