FilmChain, co-founded by Maria Tanjala and Irina Albita, has completed a significant funding round, securing a $3M (£2.3M) investment. This financial milestone was achieved through a priced round led by the Holt IntersXion fund, with support from Roca X, DeBa Ventures, TechAngels Romania, and returning investor HearstLab. The investment, which also converts previous notes, signals a robust vote of confidence in FilmChain, currently dealing with over-subscription demand.
Addressing the challenges of delayed settlements and opaque financial processes in the entertainment industry, FilmChain introduces a groundbreaking payment platform that ensures immediate access to detailed financial reports and analytics. With its cutting-edge solution, FilmChain is transforming the landscape of collection services, offering real-time payments and on-demand reporting capabilities. With over 1900 clients across the UK, Europe, and Australia, FilmChain is poised for expansion in North America.
At the core of its technological advancement, FilmChain utilizes financial technology with its own architecture and fintech APIs, and a private Ethereum blockchain, enhancing the transparency and auditability of transactions. This strategic integration instills a higher level of trust and accountability in the intricate financials of film, television, and gaming industries. The blockchain tracks ownership in an architecture that enables future secondary sales in asset management.
"Revenue collection can be a black hole for a producer. As soon as you give your film away to the world's sales agents, you are more or less a passenger, and then you wait for your money and reports. Real-time distributions are important as cash flow is a big issue in the industry. Traditional reports are Excel monsters, prone to errors, and basically impossible to check for plausibility. It's data chaos compared to FilmChain, which is so well prepared, so easy to digest," said Christoph Lange, One Two Films, FilmChain client and investor.
In 2023, FilmChain embarked on a strategic partnership with the German Producers Association (Produzentenverband), launching a bespoke reporting platform. This innovative solution empowers producers to track and report on critical metrics like revenue and audience data directly to content creators. As a natural extension of their Collection Account Management (CAM) service, FilmChain collaborated with the German Producers Association to ensure the platform was thoroughly aligned with the unique demands of the industry.
"The reporting platform streamlines bureaucratic processes and simplifies the data flow for authors and copyright holders. Theatrical, streaming, and TV productions can now be tracked transparently and standardized, which was long overdue. More transparency is also necessary along the entire value chain—because transparency creates trust," said Fabian Massah, Endorphine Productions, responsible for the Producers Association.
Now operational in Germany, the bespoke platform is not only revolutionizing how producers and creators interact with data but is set to extend its transformative impact across additional European territories. This expansion signifies FilmChain's commitment to enhancing transparency and efficiency in the entertainment industry, marking a significant leap forward in its mission to redefine the standards of financial reporting and analytics in the creative sector.
"We are honored to have attracted an exceptional group of investors to our capital table, encompassing seasoned fintech specialists, successful entrepreneurs, and distinguished professionals from entertainment," said Maria Tanjala, co-founder of FilmChain. "As we forge ahead in our quest to revolutionize global payments and expedite cash flow, we are excited to broaden our suite of products and harness cutting-edge technologies. Our strategic expansion into North America represents a natural progression for FilmChain," Tanjala said.
"In an era where transparency and immediate access to funds are paramount for filmmakers, talent, financiers, and sales agents, FilmChain stands as a beacon of innovation," declared Irina Albita, co-founder of FilmChain. "Our payment infrastructure is meticulously crafted to cater to the critical needs of these stakeholders. With the infusion of fresh capital, we are poised to empower a new wave of filmmakers across North America," Albita asserted.
"We see a particular under-the-radar moment to invest in the intersection of fintech and the sports, media & entertainment sectors. FilmChain’s fintech infrastructure, alongside its blockchain technology, ensures 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," said Brendan Holt Dunn, GP HOLT IntersXion Fund, CEO Holdun Family Office.
About FilmChain
FilmChain's innovative platform utilizes digital banking and blockchain technology to simplify revenue management for production companies through a Digital Collection Account Manager (CAM) system. The company enables efficient revenue collection, allocation, and analysis and enhances operational efficiency, transparency, and settlements. For more information, visit https://filmchain.co.
About Holt Xchange – IntersXion Fund
Over a hundred years, five generations of experience, and a robust global network, The Holt Xchange is powering innovative tech products, world-class companies, and entrepreneurs, helping shape the future of their businesses and growth. The Holt IntersXionFund is an innovative venture capital initiative that focuses on harnessing the transformative power of Fintech technologies within the realms of Sports, Media & Entertainment. This groundbreaking initiative is poised to revolutionize these industries by investing in cutting-edge companies that are shaping the future of content production, distribution, and consumption. For more information, visit https://holtxchange.com.
Media Contact
Irina Albita
irina@filmchain.co
irina@filmchain.co
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