Starzplay, a Middle Eastern competitor of Netflix Inc., got 92 million dirhams ($25 million) in debt financing from an Abu Dhabi-based fund as the coronavirus pandemic fuels demand for home entertainment.
The Dubai-based online streaming platform will use the funds from Ruya Partners to further strengthen the company’s geographic and customer reach as well as to acquire and produce original content, according to a statement Wednesday. The financing marks Ruya Partners’ first tech investment in the United Arab Emirates.
