New York-based music financing startup Duetti has successfully raised $32M in investment capital.
Contributors to this funding round included Viola Ventures, Viola Credit, Roc Nation, Untitled, and Presight Capital.
Duetti plans to use the funds to grow the business in response to market demand. This expansion will involve enlarging their team, collaborating with new artists, and exploring additional financial optimization possibilities for acquired songs and catalogs.
Duetti was founded by Lior Tibon, TIDAL’s former COO, and Christopher Nolte, a former Business Development executive at Apple Music. The company operates as a music financing platform, offering artists the ability to access flexible cash payouts for various purposes, such as purchasing a home, funding a tour, or recording a new project. Duetti has already partnered with over 60 independent artists, including CVBZ, Sylvan LaCue, and Croosh, on deals involving more than 100 tracks. To date, the company has helped facilitate music rights acquisitions, with artists receiving up to $400,000 per deal.