Iflix open to raising additional capital from strategic investor: Patrick Grove

Iflix open to raising additional capital from strategic investor: Patrick Grove

Patrick Grove, Group CEO, Catcha Group

Malaysia headquartered video streaming service iflix is open to raising additional capital “if someone very strategic would be interested”, iflix co-founder and Catcha Group’s Patrick Grove has told this portal, a day after the company announced it had raised $90 million in a funding round by telecom firm Liberty Global Plc and Kuwaiti telecom operator Zain and other investors.

Going by the industry buzz, in a bid to compete with competition like Netflix and realize its international expansion plans, iflix would need to raise an additional $100 million. The industry buzz is that the company, while having closed a $90 million round, is still on the road, looking to raise anywhere between $70 million to $100 million, to speed up its expansion plans, and also spend towards producing original content.

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