X

Aussie owned online music platform, Songtradr, has reportedly closed a $42 million capital raising, with the support of Rich Listers increasing talk of a future ASX listing.

Disclosed in an exclusive AFR report, participants included the St Baker family office, joining backers such as Tech Global boss and Rich Lister, Richard White.

Songtradr aids independent artists to facilitate links to brands and content providers, increasing the chance of monetisation via TV and advertising placement.

Royalties are also facilitated via streaming platforms such as Spotify.

Songtradr’s diversified model also manages select licences for notable rights holders.

The company is reportedly seeking to etch a tech team in Australia, and is operating out of an office in Northern Ireland.

Raised funds are said to be used for organic growth, product development and complementary strategic acquisitions.

Users include the likes of Microsoft, Netflix, Disney and Amazon, with the platform notching around 500,000 active users from a library of over a million songs.

LG HE FN Series Banners 4SQM LB 728x90 Aussie Owned Music Platform Snares $42M Raising
728x90 Aussie Owned Music Platform Snares $42M Raising
HAR0532 SHCHnews PBOX 728x90 Aussie Owned Music Platform Snares $42M Raising
en us WD Black Banners Portfolio 728x90 Aussie Owned Music Platform Snares $42M Raising
728x90 7 Aussie Owned Music Platform Snares $42M Raising
Sony 290ES 728x90 1 Aussie Owned Music Platform Snares $42M Raising
Incase LeaderBoard 728x90 Aussie Owned Music Platform Snares $42M Raising
4SQM banner 728x90px SOUL Aussie Owned Music Platform Snares $42M Raising
728 x 90 1 Aussie Owned Music Platform Snares $42M Raising
728x90 Aussie Owned Music Platform Snares $42M Raising

YOU MAY ALSO LIKE