Barcelona, December 4, 2020 – Filmin, a pioneer subscription Video on Demand (VoD) streaming platform in Spain, has added Seaya Ventures and Nazca Capital as shareholders, replacing Metropolitan Filmexport and Vertigo Films. Filmin’s goal is to consolidate its position in Spain and Portugal and to expand internationally by offering its unique content in quality cinema and series in order to take advantage of the boom in the VoD market, which has grown nine times during the last three years.
Based in Barcelona and founded in 2007, Filmin is a platform with a complementary positioning to the large generalist platforms, with content focused on independent cinema and series, novelties and classics, with a clear cultural vocation. This editorial approach allows Filmin to present an extensive catalog of 15,000 titles, the largest in Europe for a subscription platform. Filmin estimates it will close 2020 with revenues of €15 million.
Innovation has been a pillar for Filmin since the first day, when it became the first VoD platform with a subscription model in Spain. This focus on innovation is reflected both in how the platform approaches its cultural offering as well as in the development of its technological edge, and innovation will remain essential going forward.
The company will continue to be led by the founding team, Juan Carlos Tous, José Antonio de Luna and Jaume Ripoll, who have a deep knowledge of the audiovisual sector and maintain their position as shareholders. Likewise, most of the original shareholders remain in the shareholding.
Seaya and Nazca will support Filmin with their experience in developing business growth projects, contributing their know-how in scaling technology companies as well as in executing international expansion plans.
Juan Carlos Tous, founder and CEO of Filmin, affirms that “the arrival of Nazca and Seaya allows us to make Filmin’s dream of internationalization come true. Their experience will be key at a time when the VoD subscription market is competing for international presence.”
“We are very excited about our participation in Filmin, due to its growth potential, innovation culture, unique and differentiated positioning and top-level management team. Our desire is to maintain the editorial essence and identity of Filmin, with an offer focused on complementary content for film and series lovers,” said Álvaro Mariátegui, founder and co-CEO of Nazca Capital.
“We believe that the founding team and their strong focus on innovation guarantee that Filmin will consolidate its position as leader of the independent streaming market in Spain. We are proud to partner with the team as well as with Nazca Capital to support the company in its next phase of growth,” said Beatriz González, Managing Partner at Seaya Ventures.
Filmin is the second investment of Seaya III, in line with Seaya’s aim to invest mainly in top Southern European tech companies.
About Seaya Ventures
Based in Madrid, Seaya Ventures has been backing the best entrepreneurs and teams from Spain and Latin America since 2013. Seaya focuses on supporting founders in scaling their businesses and enabling them to become global leaders. For more information, please visit www.seayaventures.com
About Nazca Capital
Nazca is a private equity fund management company specialized in the Spanish middle market. Nazca leads its market segment, both by volume of operations carried out and by returns obtained on its investments. Since 2001 it has carried out 70 transactions and currently has 11 companies in its portfolio. For more information, visit www.nazca.es