Music funding platform beatBread secures $124m

The funding includes a combination of credit and equity investment. Backers include Citi, Deciens Capital, Mucker Capital, and Advantage Capital. The new capital will support beatBread’s growth in sales, marketing, and product development, while increasing access to funding across the music industry.

beatBread uses proprietary technology to offer financial advances to musicians and labels based on their streaming income. Since its launch in 2020, it has funded clients across six continents, with deals ranging from $1 000 to more than $10 million. The platform supports both new and existing music catalogues.

“Our aim is to build a financial foundation for true artist and label independence,” beatBread CEO Peter Sinclair said. “By giving creators more choice, more access, and more control, we’re helping them stay independent on their own terms.”

In addition to equity investments, credit funding was provided by GMO and other new and existing partners. The funds will also support beatBread’s Funding Network, a platform that gives artists access to offers from multiple distributors and finance firms. Artists can use the platform’s Deal Comparison Tool to assess and compare different offers.

Citi invested through its SPRINT team, which backs start-ups in sectors such as lending, alternative assets, and real estate. “We’re excited to support beatBread as they empower independent artists with tech-driven financing solutions,” Citi head of markets innovation and investments Lee Smallwood said. “This investment also marks a meaningful step in our exposure to music royalties as a re-emerging asset class.”

Triple 8 Management executive partner and beatBread investor, Paul Steele said: “beatBread gives artists, managers, and labels greater clarity, control, and fair terms. That’s important in a business where so many people are anything but transparent.”

beatBread’s platform allows users to customise terms such as deal length and recoupment rate while retaining full ownership of their music. Some may choose to sell their catalogues, but the platform also supports funding structures that keep ownership intact.

The company says the latest funding round will help scale its technology and deepen relationships across the music industry.

Learn more about beatBread here.