ROCA X invests in a London company dedicated to the film industry, founded by 2 Romanians

0

Get real time updates directly on you device, subscribe now.

Romanian investment fund ROCA X announces that it has made a first round of investment in FilmChain, a financial technology company (fintech) dedicated to the film industry based in London and New York, founded by two Romanian female entrepreneurs, StartupCafe.ro reports.

FilmChain, launched by Maria Tânjală and Irina Albița, is a platform that helps the entire film production and distribution chain to automatically manage the distribution of funds. The platform also helps with copyright management and gives each involved the opportunity to track in real time the performance and profitability of the content created.

The FilmChain platform is used by distribution companies and independent filmmakers around the world, and the company has so far raised more than £ 1.6 million from investors such as HearstLab, SFC Capital and FintechCircle.

“The film industry is currently experiencing a situation when content creators have a growing degree of independence – from reducing production costs to opening up new distribution channels through streaming platforms, technology makes the industry to become more and more agile and decentralized, following the trajectory of “The Creator Economy”. We are confident that FilmChain, in terms of team experience, product applicability, and market momentum, has the opportunity to become a major global player in the entertainment industry,” said Bogdan Pasca, ROCA X Investment Manager.

FilmChain is a service that can be accessed in the cloud (SaaS – software as a service), which automatically manages the revenue distribution table for the entire production and distribution chain of a film, giving each party the opportunity to track time real performance and profitability of the content created. By using the blockchain protocol, the platform ensures data transparency for each party involved in the project, and by integrating with banking operators, the solution minimizes transaction costs and instantly distributes revenue to allocated accounts.

In 2021 ROCA X invested EUR 3.5 million in 7 new startups and made 10 investments in the startups that were already in their portfolio.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More