Bolero, a Paris-based startup pioneering a transformative approach to the music rights royalties marketplace, has announced the successful closure of a €2 million seed round led by Dubai-based Web3 startup-focused XVC Tech. The round saw the participation of existing investors Newfund and angel investors including Petit Biscuit, Le Motif, Thierry Boyer of Webedia, Sébastien Borget of The Sandbox, Frederic Montagnon, Reda Berrehili of JoinKlub and Ki Foundation, among others.

In a landscape marked by innovation and disruption, Bolero is on a mission to decentralize the music rights investment infrastructure, offering fans and investors the opportunity to invest in music rights and receive a share of future royalties. Unlike the traditional model reliant on royalties, Bolero provides creators with instant liquidity by offering fractional shares of potential future earnings.

Founded in early 2021, Bolero has already established partnerships with over 60 rights holders and boasts a user base of more than 10,000 registered customers, with an average transaction size of $250.

Earlier collaborations, including the partnership with Belgian producer Le Motif, have significantly expanded Bolero’s catalogue, incorporating over 400 tracks from LEMOTIF LTD’s extensive repertoire. This collaboration enriches Bolero’s platform with works from renowned artists such as JuL, Wizkid, Cerrone, and more.

The infusion of capital from the seed round positions Bolero for accelerated growth and development. Co-founder and CEO William Bailey expressed excitement about the company’s trajectory, emphasizing the importance of the funding in advancing Bolero’s research and development initiatives and expanding its operational footprint.

Bailey highlighted, “This capital increase is a major step in Bolero’s development as we celebrate our third anniversary. In addition to accelerating our R&D efforts and model rollout, we are thrilled to welcome renowned investors who bring a wealth of expertise to our mission of creating a future where creators enjoy sustainable and equitable income.”

The successful seed round underscores Bolero’s commitment to reshaping the music industry’s financial landscape and empowering creators with new avenues for monetization. With a total funding of $3.4 million to date, Bolero is poised to redefine the dynamics of music royalties investment and distribution, fostering a more inclusive and sustainable ecosystem for artists and investors alike.

By Admin

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