Parisian startup Bolero's approach to music rights royalties attracts €2M investment

Bolero, a decentralised music rights investment platform, secures €2 million in seed funding led by XVC Tech, aiming to provide artists with a fair income source.
Parisian startup Bolero's approach to music rights royalties attracts €2M investment

Bolero, a Parisian music rights royalties marketplace startup, has secured €2 million in a seed round led by Dubai-based Web3 startup-focused XVC Tech.

Alongside XVC Tech, the round drew the participation of existing Newfund and angel investors including French DJ and music producer Petit Biscuit, Belgian Le Motif, Webedia’s Thierry Boyer, Sébastien Borget of The Sandbox, serial entrepreneur Frederic Montagnon, JoinKlub and Ki Foundation CEO and founder Reda Berrehili, alongside additional undisclosed parties.

Along the lines of what Stockholm’s anotherblock and MasterExchange are working on, Bolero is working on a decentralised music rights investment infrastructure, essentially, offering fans and investors the opportunity to invest in music rights and receive an appropriate slice of future royalties.

As opposed to the traditional method of monetisation relied upon by artists, that of royalties, which may or may not pan out, by offering fractional shares of potential future earnings via royalties, creators, be they artists, producers, or composers, can tap into an instant line of liquidity.

Founded in early 2021, Bolero has struck deals with over 60 rights holders and says it has well over 10,000 registered customers, averaging a purchase size of $250 per transaction.

Earlier this year Bolero announced a collaboration with now-investor, Belgian producer Le Motif that saw the addition of over 400 tracks from the LEMOTIF LTD's catalogue, a body of work that includes no less than 15 diamond records, 13 platinum and double platinum records and 25 gold records.  

The editorial rights from this catalogue are gradually being released and contains 150 works from artists including JuL, Wizkid, Cerrone, Headie One, Tiakola, Gazo, Morad, ElGrandeToto and others. 

As part of the investment round, the company says that it now wants to move beyond investments made by individuals, specifically targeting private investors, finance professionals and exchange platforms.

Bolero co-founder and CEO William Bailey elaborates:

“This capital increase is a major step in Bolero's development as we celebrate our third anniversary. 

“In addition to the funds that will enable us to accelerate our R&D and the roll-out of our model, we are welcoming to our capital-renowned investors who embody the wealth of expertise we have brought together to build a future where creators benefit from a sustainable and fair income.” 

To date, Bolero has raised $3.4 million.

Lead image: Bolero co-founders William Bailey and Arthur Amon (left to right).

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