Fintech Startup FilmHedge Raises $2 Million to Provide Loans for TV and Film Productions

By Elijah Labby Monday, March 29, 2021

FilmHedge is a fintech (financial technology) startup company for the film industry, and it’s raised $2 million to expand its team and make it easier to fund creative projects.

FilmHedge offers loans of up to $1 million and lines of credit up to $5 million because its founder, Jon Gosier, experienced struggles to fund film and television projects while he was in the industry.

Now, the fintech startup company wants to help filmmakers bring their projects to fruition, and its round of fundraising, led by WOCstar Fund with participation from friends and family, is helping the startup business grow.

Now that the FilmHedge has secured funding, it’s looking to triple the team and more effectively serve its customers.

A clapboard on a pile of money.

How to Get in on the Lending

Any filmmaker with a letter of support from a distribution business like Netflix or Amazon Prime Studios can receive a business loan if it can meet certain other requirements. And Gosier assures BizJournals that the process of the fintech startup company is completely objective. Far from the infamous networking and exclusive film funding process of the film industry, FilmHedge guarantees that if you meet the requirements of the fintech startup company, you get the funding.

"There’s no reading scripts,” the fintech startup business owner said. “There’s no, ‘I’ll fund it if you put my son or daughter in the movie.’”

Gosier’s Commitment to Objectivity

The pandemic hasn’t been easy on the movie business. According to IBISWorld, movie revenues decreased by over 11% in 2020 as infections and uncertainties about the severity of COVID-19 closed down movie theaters and sets. Because of the hit to the business, five-year revenue numbers are down by 1.6% to a valuation of $115.9 billion.

The Future of the Film Business After COVID-19

But some movie business leaders believe that the industry will make a rebound in 2021, as more theaters reopen and studios begin filming movies again.

Further, Lisa Bunnell, the president of distribution at Focus Features, told Variety that studios had to get creative because of the pandemic, which led to innovative business ideas coming to the forefront of the company.

“Without the pandemic, you wouldn’t have seen the theatrical windows collapse in the way they did,” she said. “Whether you like it or not, the pandemic forced us to try things that would be harder to do in regular times.”

Others agree. Jeff Bock, a company box office analyst with Exhibitor Relations, said much the same thing.

“A lot of the innovation we’ve seen is going to continue,” he said. “When we look back at 2020, we will see this isn’t a reboot. It’s a rebuild of the theatrical model.”

This may be true. If it is, it’s good news for Gosier and the FilmHedge fintech startup business. Come later this year or next, FilmHedge might be poised to invite new players into a coronavirus-free film business.

About the Author

Headshot of Elijah Labby

Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.

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