Quickflix Limited (ASX:QFX) shares have soared in early trade after Los Angeles based entrepreneur Alki David helped finance a $5 million funding package on Christmas Eve.

 

Larger than life character Mr David, with an estimated worth of $1.8 billion, will join the board of the Perth based movie subscription company.

 

Mr David says Quickflix represents a key investment for him and the growth potential for the company in the Asia pacific market and beyond is staggering.

 

Quickflix CEO Stephen Langsford says the company is delighted the round of funding from investors who understand the high growth sector in which Quickflix operates.

 

Quickflix reported a $14 million loss for the 2012 financial year.