APAC: Filmplace, a Singapore-based film location rental startup, has announced that it has raised $220,000 in the fourth quarter of 2020 in a pre-seeding funding round led by New York’s Admiralty Holdings.
The company plans to use the capital to build up its infrastructure, marketing capabilities, and technology solutions as it expands further into Southeast Asia. It is also seeking to create more incentives for hosts on the platform by launching a pro-host program, where location owners can have their spaces featured more prominently on Filmplace.
Filmplace has an Airbnb-like business model, which allows production companies and brands to book spaces for film locations remotely. With the substantial growth of interest in short-term rentals among both guests and venue owners alike, Filmplace’s system has fostered interest in the possible applications of the short-term rental market.
The startup currently operates in Singapore, Malaysia, Taiwan, and South Korea, with an auxiliary office in India. Last year, it attracted more than 1600 users with over 400 locations on its platform.
Lincoln Lin, CEO and founder of Filmplace, told Tech in Asia: “[Venue owners] can earn much more through Filmspace by hosting their venue, home or rooms that can earn $500 to $2000 for a month.”