Duetti, a NYC-based music financing platform, raised $90M in funding.
The funding included $15M of new equity, alongside a new $75M credit facility. The equity financing was led by Nyca Partners, alongside Viola Ventures, Duetti’s lead seed equity investor, and Cohen Circle. The $75M credit facility was provided by Northleaf Capital Partners.
The company intends to use the funds to further acquire catalog tracks at scale.
Founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, Duetti aims to get a wide range of artists quick access to catalog sales and unlock new investment opportunities. The model provides data-driven prices for established tracks, allowing artists to sell individual tracks or even parts thereof, while Duetti then markets those tracks going forward using ROI-focused techniques. Its music financing platform has helped over 250 artists receive up to $2M per transaction.
Commenting on the news, Lior Tibon said: “At Duetti, we are dedicated to making the industry more transparent and unlocking new opportunities for independent artists who are normally overlooked by the investment community and the more traditional label system.”
FinSMEs
15/02/2024