MasterExchange looks to launch unique music investment platform following $2.7m fundraise
Stockholm & Los Angeles-based MasterExchange today announces that it has raised $2.7 million in funding from global investors including Vectr Fintech, Claes-Henrik Julander, and Rob Small.
The MasterExchange platform enables anyone to invest fiat currency in specific songs and receive quarterly royalty payments, as well as trade their shares of music royalties. The first song to be made available to invest in, Sofia (1bn+ streams) by Alvaro Soler, is available to purchase now. The investment window will close on the 15th of August, with more songs set to be announced soon.
MasterExchange was co-founded in Stockholm in 2022 by, amongst others, AI and blockchain expert Alexander Fred-Ojala, Star Stable founder Johan Edfeldt, and Billboard #1 producer Jakke Erixson. It is initially available to customers in the UK, the EU, and EEA countries.
Alexander Fred-Ojala, CEO and Co-Founder of MasterExchange, comments: “This innovation allows music lovers to find unique and exciting new ways to connect with the music they love, whilst allowing the industry new, easy-to-use channels to create super-fans.
“For the creators, MasterExchange offers the opportunity to sell a part of future revenues, giving them more possibilities to fuel artistic creation. MasterExchange is well-positioned to drive this change with a team that has frontier tech expertise, deep roots in the music industry, and company-building experience. I am super proud to lead this effort and this amazing group of people!”
Jason Best, Managing Partner at Vectr Fintech, comments: “We invested in MasterExchange because their experienced and execution-focused team has delivered the easiest user experience for artists, fans and music industry professionals. Their fiat currency-based model enables artists the best way to provide investment opportunities to their fans.
“The industry stakeholder alignment they have achieved can enable their platform to scale rapidly and efficiently. We believe that MasterExchange is capable of unlocking billions of euros of music investment value.”