Nazca acquires Filmin
Nazca Capital has bought a majority stake in Spanish video platform Filmin from Metropolitan Filmexport and Vertigo Films.
Spanish venture capital house Seaya also invested in the business.
Filmin will continue to be led by founders Juan Carlos Tous, José Antonio de Luna and Jaume Ripoll.
With Nazca's support, Filmin intends to consolidate its market position in Spain and Portugal, broaden its product offering and boost its international expansion.
Nazca is currently investing its Nazca Fund V, a lower-mid-market vehicle that closed on its €150m hard-cap in June 2019. The fund targets majority and significant minority stakes in small Iberian companies, and typically deploys equity tickets of €7-20m.
Company
Founded in 2007 and headquartered in Barcelona, Filmin is a video-on-demand platform offering a wide variety of films and TV series.
The company expects to generate revenues of €15m in 2020.
People
Nazca Capital – Álvaro Mariátegui (founder, co-CEO).
Filmin – Juan Carlos Tous (co-founder, CEO).
Advisers
Equity – Mediobanca (corporate finance); PwC (financial due diligence); Perez Llorca (legal).
Company – Audi Consultores (corporate finance); Garrigues (legal); Sabatellini & Associats (legal).
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