Lisbon, Portugal-based music discovery platform Tradiio closed a $975k seed funding round.
Backers included Espirito Santo Ventures.
The company, which is also backed by innovation management software provider Exago, intends to use the funds to develop the platform and increase the number of artists in it.
Available via the web and through iOS and Android apps, Tradiio provides a free platform that lets users listen to new music from up-and-coming artists, giving them virtual coins to back those they like. Users can gain credibility and earn more virtual coins on the platform, which can be redeemed for rewards.
Founded by Alvaro Gomez, André Moniz and Miguel Leite in 2014, the company has offices in London and Oporto and employs 18 people in total.
FinSMEs
02/03/2015