Thursday, 10 August 2017

Delta Partners advises iflix on $133 million funding led by Hearst

Dubai, 10 August 2017 - Delta Partners Corporate Finance Limited, a member of Delta Partners, has acted as financial advisor on a $133 million funding round for iflix, the Malaysian Subscription Video on Demand (SVoD) service for emerging markets, offering users unlimited access to thousands of TV shows and movies from all over the world.

Working in conjunction with Moelis & Company LLC, Delta Partners co-advised iflix on the deal, which was an important milestone in the securing of the funding required to continue building its global presence.

The funding round attracted significant interest from both new investors and existing shareholders and it was led by Hearst, one of America’s leading diversified media, information and services companies. Additional investors, including Singapore-based EDBI, the corporate investment arm of the Singapore Economic Development Board, clients of DBS private bank and existing shareholders Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc, all increased their investments as part of the funding round.

Commenting on Delta Partners’ role in the funding, Fede Membrillera, Managing Partner and Head of Corporate Finance, Delta Partners, said: “This is yet another relevant step forward in iflix’s journey towards building its position as the leading SVOD player in emerging markets. We are proud to have been a reference advisor to iflix since 2015, supporting the company in delivering its promise to customers and shareholders.”

Mark Britt, Co-founder and CEO, iflix, added: “This round of funding will allow us to continue investing in local and original content, whilst continuing to fuel our global customer reach. With $220m of funding raised so far this year, we can continue to rapidly evolve the iflix service to meet the unique challenges of emerging markets.

“Delta Partners has been instrumental in not only raising funds, but also in helping to navigate the understanding and commercial integration with our telco partners in taking to market a winning value proposition.”

Iflix was launched in May 2015 and is available in 19 countries around Asia, Middle East and Africa.