Web site collects global finance sources
Toronto's Recoup.net launches today
On the site www.recoup.net, launching today, Toronto-based Recoup Inc. lists all the sources of financing for film and TV from banks, private financiers and government subsidies in the G8 countries that the company could find. Site, which is free, also provides contacts and either application forms or links to the forms.
Recoup is hoping producers and financiers will be willing to purchase a related product the company is currently testing: Recoup Pro, Internet-based software with which lenders and producers can simultaneously follow the money on a project from the beginning of negotiations through the closing of the deal and to the recoupment (or lack thereof) of the investment over time.
"What you have in the industry now is various different types of closed information systems that don't speak to each other," Recoup president and former entertainment banker Paul Stewart told Daily Variety. "Ours is the first system that brings the financiers and the producers together in one space."
Recoup Pro should be available in a few months, Stewart said.
