MasterExchange strikes chord with €2.4M funding for music investment platform
Stockholm-based startup MasterExchange has secured $2.7 million or €2.4 million in funding from global investors, including Vectr Fintech, Rob Small and Claes-Henrik Julander. This investment will fuel the launch of its innovative music investment and royalties platform.
Since its inception in 2022, the platform has allowed people in the UK, EU and EEA to invest in songs using standard currency and receive quarterly royalties. Users can also trade music royalty shares.
The first available song for investment is “Sofia” by Alvaro Soler, with more songs to be announced soon. The investment window for “Sofia” will close on August 15, 2023.
MasterExchange CEO and co-founder Alexander Fred-Ojala highlighted that its groundbreaking platform introduces music lovers to unique and exciting ways of engaging with their favorite music.
He explained that it opens up new, easy-to-use channels for the industry to foster devoted super-fans. MasterExchange presents an appealing prospect for creators to sell a stake in their future revenue, providing greater opportunities for artistic expression.
“I am super proud to lead this effort and this amazing group of people!” he said.
Co-founder and chairman of the Board, Johan Edfeldt, lauded the investors who had come on board to support MasterExchange. He pointed out that this group is not ordinary angels, but instead, they possess remarkable expertise.
He praised Small, the founder of Miniclip, whom he said contributed profound knowledge of B2C strategies. Meanwhile, Julander, the founder of Pan Capital, brought sophisticated investment tools to the table.
Edfeldt also emphasised that Vectr Fintech’s B2B2C VC perspective from its operations in San Francisco and Hong Kong adds further value to the team.
“We are proud and happy to have them onboard,” he said.
Praised the MasterExchange platform
Vectr Fintech managing partner Jason Best commented that the company invested in MasterExchange because the experienced and execution-focused team had delivered the easiest user experience for artists, fans and music industry professionals.
He praised the platform for offering artists the best way to provide investment opportunities to their fans through its fiat currency-based model.
Best also underscored that the platform had achieved industry stakeholder alignment, which allowed it to scale rapidly and efficiently.
“We believe that MasterExchange is capable of unlocking billions of euros of music investment value,” he said.
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