The successful funding round provides the company with the capacity to aggressively pursue growth strategies and further increase the active userbase which surpassed 17m in May 2019.
iflix, a major Southeast Asian digital entertainment service, has announced the finalisation of a new round of investment to drive growth ahead of a prospective IPO.
This round was cornerstoned by Fidelity International, a global asset manager with $379.2bn assets under management as of 31 December 2018.
As part of the round, iflix also welcomes some of the regions major media companies to the register including Indonesias MNC, Japans Yoshimoto Kogyo, and South Koreas JTBC.
This complements the continued investment by the founders Catcha Group, and strategic shareholders Hearst, Sky and EMC, each of whom also participated in the round. Whilst the final size of the round has not been disclosed, the total is well in excess of $50m.
The successful funding round provides iflix with the capacity to aggressively pursue growth strategies and further increase the active userbase which surpassed 17m in May 2019, up from 9m six months earlier.
Patrick Grove, Co-Founder and Chairman at iflix said: We are incredibly proud to have Fidelity International cornerstone this latest round of funding, along with investments from all our major shareholders and some of the regions most significant media companies. These investments are a clear affirmation of iflixs business model and growth prospects, and strengthens our ties to some of the regions largest providers of local content. We have a strong pipeline of new content and are excited to be making our most extensive ever content offering available to our millions of users across the region.