Stockholm-based music investment marketplace MasterExchange has raised a $2.7M initial funding round, the firm announced.
Global investors like Hong Kong-based venture capitalist Vectr Fintech and Pan Capital CEO Claes-Henrik Julander participated in the startup’s funding round.
The fresh capital enables MasterExchange to launch its music investment platform, which allows anyone to invest in their favorite songs.
MasterExchange was co-founded in Stockholm in 2022 by, amongst others, AI and blockchain expert Alexander Fred-Ojala, Star Stable founder Johan Edfeldt, and producer Jakke Erixson.
MasterExchange has a system called the Initial Music Offering (IMO). Like an Initial Public Offering (IPO), an IMO lets investors know that a song is available for investment.
Any master royalty beneficiary, such as artists and music labels, can launch an IMO on the MasterExchange platform.
Investors who buy shares of song royalties receive the income generated from the song uses, such as streaming or a commercial feature.
MasterExchange provides transparent information about investment opportunities for every song, allowing users to make well-informed decisions.
For now, the platform is available to customers in the EU, UK, and EEA countries. MasterExchange has introduced the first song that people can invest in, which is Sofia by Spanish-German singer Alvaro Soler.
Investors have until August 15, 2023, to invest in the piece, with the platform planning to introduce more songs soon.
Read more on Tech Gist Africa:
Sweden’s healthcare startup Encare secures €1.5M
