The Barcelona-based platform Filmin, specialized in independent cinema and series, wants to consolidate its position in Spain and Portugal and expand internationally given the boom in the video-on-demand (VoD) market, which has multiplied its demand ninefold in the last three years. To do so, it has brought in the venture capital fund management company Nazca Capital as a majority shareholder, replacing Metropolitan Filmexport and Vértigo Films. This operation confirms Nazca Capital's presence in Catalonia, where it has focused 30% of its projects, with investments in companies such as Agromillora and Guzmán Gastronomía ---already divested--- and, more recently, IDP.
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The company will continue to be led by its founding partners, Juan Carlos Tous, José Antonio de Luna, and Jaume Ripoll, who maintain their position as shareholders. Nazca Capital, one of the leaders in private equity investment in unlisted SMEs, will provide them with its experience in developing growth projects in companies and its knowledge of subscription business models.
The venture capital firm Seaya Ventures has also joined the shareholding, offering its experience in technology and fast-growing international expansion projects. Despite the new additions, most of the original shareholders will remain in the shareholding.
The CEO and founder of Filmin, Juan Carlos Tous, emphasizes that the arrival of Nazca Capital and Seaya Ventures will allow them to "make the dream of internationalization a reality" for the company. "Their experience will be a key boost for the project, allowing us to strengthen our position at a time when the big players in the VoD market compete in a global market," he explains. For his part, the co-CEO and founder of Nazca Capital, Álvaro Mariátegui, highlights Filmin's "growth potential, innovation culture, unique and differentiated positioning, and top-level management team": "Our will is to maintain Filmin's editorial essence and identity."
Based in Barcelona and founded in 2007, Filmin offers cinema and series, mainly European, distinct from other more generalist competitors. It has a catalog of 15,000 contents. The video-on-demand platform expects to close 2020 with a turnover of 15 million euros.