In June 2019, we made a minority investment into Purely Capital, a FinTech platform that instantly quotes for and subsequently finances long-dated receivables for commissioned content. Purely Capital is revolutionising payments in the entertainment industry.
Subsequently, we have actively leveraged our network to generate new leads for additional financing lines and bolt-on insurance products, key to unlocking additional value.
We have also provided an alternative debt solution to Purely Capital to facilitate the multi-million-dollar acquisition of long-dated receivables from well reputed counterparties. We completed this follow-on deal within four weeks.