FilmChain, an innovator in digital financial management for the screen industry, has successfully completed a funding round, securing £2.8m.
According to FinSMEs, this financial boost was led by the Holt IntersXion fund, complemented by contributions from Roca X, DeBa Ventures, TechAngels Romania, and HearstLab. Notably, this round also included the conversion of previous notes into the current funding structure.
At its core, FilmChain offers a pioneering Collection Account Management (CAM) platform tailored for the global screen industries. This platform revolutionises how revenues are collected and distributed, ensuring transparency and efficiency. The system is designed to handle transactions and allocations in near real-time, a significant upgrade over traditional methods.
The infusion of £2.8m is earmarked for a strategic expansion into North America. FilmChain aims to leverage these funds to broaden its operational scope and extend its business reach, strengthening its presence in this key market.
In addition to its CAM solution, FilmChain has developed a sophisticated royalties management system that caters to digital distributors, broadcasters, and studios. This system facilitates the seamless management of enterprise-level royalties across the industry spectrum.
FilmChain’s services are currently utilised by nearly 2000 clients across Europe and Australia, highlighting its extensive impact and the trust it has garnered within the industry.
FilmChain co-founder Irina Albita shared insights into the company’s vision and the impact of this funding, “This investment not only validates our business model but significantly enhances our capability to meet the growing demands of the global screen industry. Our expansion into North America is a strategic move to tap into a vibrant market ripe for innovation in digital revenue management.”
Previously, the company has secured investments that have laid the foundation for its current growth trajectory, positioning FilmChain as a leader in the FinTech sector catering to the screen industries.
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