A streaming platform start-up for independent films and TV series has almost reached its funding target ahead of launching publicly on Crowdcube later this month.
Paus.tv, which is headquartered in Manchester, has so far secured 85% of the £500,000 it is hoping to raise to boost the company's marketing arm as well as create new jobs and invest in its product.
Over the last year the business has worked with the likes of Sir Ian McKellen, David Tennant, Sadie Frost and Himesh Patel and also expanded into NFTs.
READ MORE: Shares fall in Matthew Moulding's THG after 'irregular trading' dossier handed over
The company has so far been backed by high net-worth individual investors on Crowdcube and is expected to launch its fundraising drive publicly on January 18.
Chief executive and founder Rishi Kapoor told BusinessLive that the firm may choose to overfund if the £500,000 target is reached.
He added that venture capital funding has already been secured to back the business.
The company previously raised more than £350,000 on Crowdcube through 174 investors, 40% above its original target.
Most Read
Don't miss a thing - sign up for your free North West newsletter - and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more - and the news as it breaks - .
Mr Kapoor said: "We have not only met all of our targets, but completely exceeded all expectations.
"We have expanded our number of users by more than six times our expected target.
"Our revenue is over 200% what we said we would achieve and we are not screening three new films or series every single day.
"We are raising a bigger round, with a bigger team and bigger ambitions.
"In 2022 we will be going supersonic with a ground-breaking new start TV deal with the world's largest digital media player, Roku, giving us access to 55 million households."
Mr Kapoor founded the business in 2018 and has previously worked for the likes of Warner Bros, NBC Universal and Sony Pictures Entertainment.
Don’t miss
Brand director Kam Bhogal added: "We will be doubling our efforts in marketing, having spent a year learning about our target customers and what works for them."
Chairman Paul Morrissey said: "Paus has a really strong financial model which allows it to make money.
"We take a proportion of anything that's raised for our service.
"The last year for Paus has been a very exciting year. We have moved from something which was a concept to something that is actually working now."