Duetti, a NYC-based provider of a music platform for catalog monetization for independent artists, raised $114m in funding.
This includes $34m in equity financing led by Flexpoint Ford, along with participation from existing investors Nyca Partners and Viola Ventures. Additionally, Duetti completed its inaugural $80m privately rated asset-backed securitization (ABS) transaction, backed by a highly diversified music rights catalog. Barclays acted as the sole structuring and placement agent for the ABS.
The company intends to use the funds to accelerate its acquisition of music catalogs and expand its proprietary forecasting, pricing, sourcing, and marketing technology.
Founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, Duetti Duetti has partnered with over 500 artists to date across genres, based in over 30 countries, including MC Delux, SadBoyProlific, and Savannah Dexter. Artists have been able to secure immediate access to the funds needed to support their careers by selling master catalogs, individual tracks, or portions thereof, in deals typically ranging from $10,000 to $3 million per artist. In addition to immediate access to capital, the company’s optimization services have helped artists maximize distribution and audience impact across all platforms, driving significant increases in streams and visibility.
Additionally, Duetti completed its inaugural $80 million privately rated asset-backed securitization (ABS) transaction, backed by a highly diversified music rights catalog. Barclays acted as the sole structuring and placement agent for the ABS.
FinSMEs
29/10/2024