SoFAST completes first funding round
June 8, 2022
SoFAST has announced that is has successfully completed its first round of funding.In a press statement, the company said: “As an aggregator of FAST (Free Ad-supported Streaming Television) channels, this fundraising will allow us to grow our business development and technical support activities, around the world, allowing us to get closer to our customers, provide better service and increase access to the CTV/OTT platforms to which we refer our FAST channels.”
The statement added: “After 14 months of operations, we have succeeded in convincing financial groups to join us in this exciting adventure as the streaming world adopts the FAST / AVoD model.”
Over this short period of time, SoFAST has succeeded in connecting to 48 platforms, offering a diversity of channels (Sports, Cinema, News, Series, Documentaries, Food, Kids, Music and more). Today, the portfolio includes nearly 160 FAST channels in addition to the 80 new channels currently in the pipeline.
“Our success is clearly due to the fact that our business model is extremely attractive to Content Providers who want to enter the FAST business quickly, at low cost and with minimal risk,” concluded the company.