FilmChain, a UK-based startup, has raised €2.8M in funding to implement Entertainment FinTech solutions, aimed at automating payments in the film and TV sectors.
The Holt IntersXion fund led the round, with support from Roca X, DeBa Ventures, TechAngels Romania, and returning investor HearstLab, achieving this financial milestone. The investment, which also converts earlier notes, shows that FilmChain, which is presently handling over-subscription demand, has received strong support.
Maria Tanjala, co-founder of FilmChain, said:
“We feel honored to have attracted an exceptional group of investors to our capital table, comprising seasoned fintech specialists, successful entrepreneurs, and distinguished professionals from the entertainment industry. Excited to broaden our product range and harness cutting-edge technologies, we’re committed to advancing our mission of revolutionizing international payments and expediting cash flow. Additionally, we see FilmChain’s strategic entry into North America as a logical next step.”
To address the issues with slow settlements and ambiguous financial procedures in the entertainment sector, FilmChain presents a novel payment platform that guarantees instant access to comprehensive financial statistics and analytics. Moreover, FilmChain is revolutionizing the collection services industry with its innovative technology, enabling real-time payments and on-demand reporting features. Additionally, having amassed over 1900 customers and gained significant momentum in the UK, Europe, and Australia, FilmChain is strategically positioning itself for growth in North America.
Irina Albita, co-founder of the startup, stated:
“FilmChain stands as a beacon of innovation in an era where transparency and immediate access to funds are paramount for filmmakers, talent, financiers, and sales agents. We have carefully designed our payment infrastructure to meet the essential requirements of these parties. We are in a position to empower a new generation of filmmakers in North America with the infusion of new funding.”
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FilmChain centers its technological innovation on leveraging financial technology, incorporating a private Ethereum blockchain, its architecture, and FinTech APIs to enhance transaction transparency and auditability. Furthermore, this strategic integration enhances the credibility and accountability of the intricate financials within the gaming, film, and television sectors. In an architecture that facilitates future secondary sales in asset management, the blockchain monitors ownership.
In 2023, FilmChain and the German Producers Association (Produzentenverband) formed a strategic alliance and introduced a customized reporting platform. Producers can now monitor and report on important indicators, such as revenue and viewership statistics, directly to content creators thanks to this creative approach. FilmChain worked with the German Producers Association as a logical extension of their Collection Account Management (CAM) service to make sure the platform was perfectly in line with the particular requirements of the business.
The custom platform, currently operational in Germany, not only revolutionizes how producers and artists interact with data but also prepares to expand its innovative impact across other regions in Europe. Moreover, with this growth, FilmChain is demonstrating its dedication to improving efficiency and transparency in the entertainment sector and taking a big step toward its goal of redefining the standards for financial reporting and analytics in the creative industries.
Brendan Holt Dunn, GP HOLT IntersXion Fund, CEO Holdun Family Office, continued:
“We believe that there is a unique opportunity to invest in the nexus between finance and the media, entertainment, and sports industries. Further, FilmChain’s fintech infrastructure and blockchain technology ensure that every dollar of revenue generated is equitably distributed among stakeholders and royalties management is executed with unambiguous precision, driving more efficient, transparent, and secure financial operations in the management of film revenues.”
