Subscription video-on-demand (SVoD) provider iflix has gone live in Kenya following completion of $133 million (Sh13.8 billion) funding for expansion to emerging markets.
The announcement of the fundraising was made after iflix announced its entry to Kenya and several other markets at the end of May through its African subsidiary.
“These new funds will allow us to further execute on our local content strategy and expand our technology and development teams so we can continue to rapidly evolve the iflix service to meet the unique challenges of emerging markets,” said iflix co-founder and group CEO Mark Britt.
The new round brings total funding raised by iflix this calendar year to an excess of $220 million (Sh22.85 billion). Proceeds from the round will be invested in its local content strategy.
The on-demand service continues its assault on the market, which was first penetrated by American-based Netfix before entry by Showmax, Amazon and now iflix.
Showmax opened Nairobi offices earlier in the year to drive expansion in the East African region.