Artists-advance startup platform beatBread which claims to be “a pioneering music funding platform enabling artists to access capital without giving up ownership of their music or control of their careers” has finalized a $100 million funding agreement with Variant Investments.
The influx of $100 in funding will allow beatBread to offer funding ranging from $1000 for early-stage artists to $2 million deals for established stars.
“Our initial artist fund powered more than 500 advances to artists and independent labels, keeping ownership in the hands of artists and creators,” said beatBread CEO Peter Sinclair in an official statement. “Now we’re scaling our capital sources to fund the next 1000 deals and expanding the size of our advances in the process. Major label deals are no longer the only option for artists seeking to fund their careers. Our mission is to empower artists and independent labels with better economic terms and the freedom to choose their own partners and maintain creative control.”
