TLDR:
- NYC-based music financing platform, Duetti, has raised $90 million in funding.
- The funding includes $15 million of new equity and a $75 million credit facility.
Duetti plans to use the funds to acquire catalog tracks at scale, providing investment opportunities and transparency for independent artists.
Duetti, a music financing platform based in New York City, has announced that it has raised $90 million in funding. The funding round includes $15 million of new equity and a $75 million credit facility. Nyca Partners, Viola Ventures, and Cohen Circle led the equity financing, while Northleaf Capital Partners provided the credit facility. The company plans to use the funds to acquire catalog tracks on a larger scale.
Founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, Duetti aims to provide a platform that offers a wide range of artists quick access to catalog sales and investment opportunities. By using data-driven pricing for established tracks, independent artists can sell individual tracks or parts of their catalog while Duetti markets those tracks using ROI-focused techniques.
Since its inception, Duetti’s music financing platform has helped more than 250 artists receive up to $2 million per transaction. The company’s goal is to make the music industry more transparent and provide new opportunities for independent artists who are typically overlooked by the investment community and traditional label systems.
The funding round is a significant milestone for Duetti and will allow the platform to expand its services and support more artists in acquiring funding and investment opportunities. With the growing popularity of independent artists and the need for transparency in the music industry, Duetti’s platform offers a unique solution for artists to monetize their catalog and gain access to financial support.
