Fanvue Raises $1m to Challenge 'Connection Economy' Industry

LONDON, April 15, 2021 /PRNewswire/ -- Fanvue, an all-new platform aiming to shape the future of content monetisation, has raised $1m in the build-up to the product launch. 

Founded during the first lockdown in March 2020 by William Monange and YouTuber Joel Morris (JMX), the venture aims to offer all content creators an alternative to OnlyFans and Patreon, tapping into the explosion of the direct-to-fan model within the sector.

Addressing the common industry issues regularly raised by creators and users alike, Fanvue will initially focus on improved customer service, better discoverability, as well as advanced analytics and content security technology. The product will launch in the first half of 2021 and already has the backing of a number of unnamed but established content creators from other platforms ready to migrate across at launch. The subscription content creator market is valued by Fanvue at $5-7bn and used by more than 10 million paying customers a month of the exploding industry dubbed the 'connection economy'. 

Following an initial raise in 2020, a number of existing backers have added further funds in a separate raise in March 2021. This takes the funds raised to over $1m and values the soon to be launched venture at $30m pre-money. 

Co-founder Joel Morris said: "I'm from a creator background and that has made me aware of the serious flaws with current platforms. Fanvue has been built for creators by creators.

"We feel there's a need for a better subscription platform for content creators tailored to their needs. Fanvue is designed as a platform inclusive for all creators whether that's musicians, artists, videographers or adult content." 

For further information please contact: [email protected] or [email protected]

Notes to Editors

• William Monange, formerly of BBC & BT, with a tech and content talent management background turned tech Entrepreneur
• Joel Morris is a successful YouTuber, most renowned for his JMX channel which currently has 2.5m subscribers.

SOURCE Fanvue