Music Raiser, a popular music crowd funding site in Italy, has received over €1,000,000 in contributions so far and that figure continues to grow.
The site generates revenue from its prolific list of artists and bands looking to receive funding for a pre-planned project. As interest of the crowdfunding model has increased it has attracted the attention of investment. Enter B Ventures and Key Capital.
These two investors are pledging money towards the start-up, to help boost promotion for young artists, allow music raiser to open an office in London and introduce themselves into the English market.
B Ventures Bio
“B-ventures is a project aimed at accelerating the growth of tech start-ups. Selected Italian and European start uppers will be accepted into the b-ventures program, housed in the Parma headquarters of the Buongiorno (Italian for Hello) company. The enterprises will then receive intensive training and advice for improving their business.”
Source: B-Ventures Website, Who we are: http://b-ventures.it/about-us
Key Capital Bio
“A private equity firm, that structures investments as transparently as possible and in a way that aligns the interests of all the parties involved.
Our approval process is simple: the investment committee comprises the three investment partners, all of whom will meet with the company prior to the investment committee decision with Chairman.”
Source: AboutKCP http://www.keycapitalpartners.co.uk/page.php?idpage=4
The investors saw fit to fund this enterprise with a collective total of €350K and as mentioned before, will aid the expansion of the company and the amount of promotional opportunities it can offer its clients.
When interviewed about the agreement, B-Ventures, Mauro Del Rio replied:
"Musicraiser team has a unique set of skills: on one hand, they fully understand the traditional music business (Giovanni fronts one of the leading indie band of the last decade); at the same time, they "get" the new digital way, and they embrace it. In less than a year and with limited resources, they managed to set up and take off the ground what is now the leading crowdsourcing platform in Italy.
We look forward supporting them in taking this leadership outside Italy"
Also, Key Capitals CEO added:
"Key Capital has always believed in crowdfunding and this investment proves it. Musicraiser for us is once again points to how our society increasingly digital economy. The investment of Key Capital is only the starting point of a growth plan and Musicraiser not deny the possibility of further investment from other parties also to strengthen the company, financially and implement the business plan that includes international expansion ".
With a hive of activity growing around this site and great musical talent already taking an interest, MusicRaiser looks set to take the English market by storm, whilst providing a more professional platform for its current hopeful artists, bands and composers.