HearstLab, an investor in women-led startups, today announced its seed investment in London-based financial technology (fintech) company FilmChain. The announcement was made by HearstLab Chairwoman Eve Burton and FilmChain Co-CEOs Maria Tanjala and Irina Albita.
Serving the global film and television industry, FilmChain collects revenues and pays production stakeholders in a transparent and automatic manner, leveraging a private Ethereum blockchain ledger to maintain transaction information. Further extending its leadership in providing financial transparency, FilmChain recently launched dynamic customizable performance reports for producers, sales agents and investors – an industry first for film collection management.
“We are thrilled to invest in FilmChain, partnering with them to expand their business in the U.K. and U.S. They bring transparency to a traditionally opaque process, ensuring monies are paid and putting real-time performance tracking at the fingertips of key project stakeholders. We were impressed with their traction and ability to provide increased value to their media clients. We continue to advance our mission of helping women-led businesses grow and are excited to further expand HearstLab,” Burton said.
“We are delighted to join HearstLab as an investment and strategic partner that shares our pursuit for a digital future of the entertainment industry and supports us in extending our product adoption with enterprise-level partnerships and in new territories,” said Albita. “Having such a great investor, committed to supporting female founders exactly at our stage of growth, made the conversation a perfect fit right from the start. We were thrilled to discover such wonderful partners, who are ready to roll up their sleeves and provide hands-on support,” said Tanjala.
About HearstLab HearstLab provides cash investment and services to early-stage, women-led startups innovating across fintech, data analytics, health, transportation, enterprise technology and media. Its mission is to close the gap in VC funding for women by helping founders build sustainable and highly scalable businesses in the U.S., U.K. and Europe. With access to Hearst resources across 360+ businesses, HearstLab’s breadth of services includes assistance with privacy and security; legal services; and branding, marketing, advertising and editorial support. Portfolio companies also benefit from the guidance and support of HearstLab Scouts, women leaders across Hearst who share their networks and expertise. HearstLab has a full-time dedicated team assisting with UI/UX, DevOps engineering, data security, data science, business development, market research and recruiting.
About FilmChain FilmChain is the fintech platform that pays professionals in the film and TV industries. Producers, investors, public financiers, sales agents and actors access their money and data in automatic, transparent processes. Named Startup of the Year at the London Business Awards 2020 and a SXSW Pitch 2020 finalist, FilmChain leverages blockchain technology and machine learning to save industry professionals millions of pounds in mismanaged funds, human errors and lack of data. The platform is used end-to-end by HBO, Council of Europe Eurimages, Film Fund Hamburg, German Producers Association, Screen Australia and clients in the U.K., Europe, Canada, Australia and Israel.
Media Contact Hearst: Paul Luthringer, firstname.lastname@example.org, 212-649-2540
Contact FilmChain: email@example.com, firstname.lastname@example.org