Southeast Asia Over-the-Top(OTT) TV service, iflix has closed a new round of funding in excess of US$90 million to support its further international expansion. The financing includes new investors, Liberty Global and Zain, a leading mobile and data services operator in the Middle Eastand Africa with whom iflix recently established a joint venture ‘iflix Arabia’ in the MENA region.
Additional capital also came from existing shareholders Sky, Catcha Group and Los Angeles-based Evolution Media, an investment company that partners with entertainment, lifestyle, media, sports, and technology businesses.
Now available in nine markets across Southeast Asia, iflix recently launched its service in Pakistan and Vietnam, and additionally announced its joint venture, iflix Arabia, with Zain.
The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-linesubscribers and 5 million mobile subscribers.
Mark Britt, co-founder and Group CEO, iflix
The new funds will enable us to seize this immense opportunity and continue empower local consumers and provide them with the best content and services available,and the freedom to enjoy that offering whenever and wherever they want, wherever they arein the world.
Bruce Mann, Liberty Global's Chief Programming Officer
Investing in an innovative emerging business like iflix enables us to gain an even greater insight into subscription video on demand services, as we continue to develop our own evolving video entertainment propositions for millions of our customers throughout Europe, Latin America and theCaribbean.
