Iflix SVOD Raises US$50m Ahead Of IPO

Malaysian based SVOD service iflix has received more than US$50 million in investments as it looks to list on the ASX.

The iflix streaming platform has around 17 million active users, offering free and paid subscriptions in more than 20 countries, focusing on “emerging markets” in South East Asia, the Middle East and North Africa.

According to the Australian, iflix hired Macquarie Capital and UBS earlier this year with a plan to list an initial public offering on the ASX.

A recent funding round attracted a number of backers, including global asset manager Fidelity International, Indonesian media company MNC and Japanese entertainment company Yoshimoto Kyogo.

Existing media companies who have invested in iflix including Hearst and Sky also participated in the new funding round.

Former Nine Entertainment executive Mark Britt runs the streaming service, which is part of Patrick Grove’s Catcha Group, which completed five IPOs, including four on the ASX, between 2007 and 2016.