Backed by Mega-Bank Citi, Indie Artist and Label Financer beatBread Raises $124 Million

This is Citigroup’s first foray into the world of music royalty invesments. beatBread Courtesy Photo Indie finance platform beatBread said on Tuesday it secured $124 million in loans and equity investment to expand its lending products for unsigned artists, writers and labels. Equity investors leading the funding round include global banking giant Citigroup and venture investors and long-time beatBread backers Deciens Capital and Mucker Capital. Other investors include Advantage Capital, while GMO provided additional credit funding. Related “At beatBread, we’re building a financial foundation for true artist and label independence,” beatBread CEO Peter Sinclair said in a statement. “By giving creators more choice, more access and more control, we’re helping them stay independent on their own terms … [to] compare multiple funding options from multiple funding sources and make the choice that’s right for them.” Peter Sinclair, beatBread CEO Courtesy Photo The latest fundraise follows two earlier capital infusions in 2022 when beatBread raised $34 million from Deciens, Mucker and others, and separately $100 million secured through an institutional funding agreement with Variant Investments. Trending on Billboard Launched in 2020, beatBread’s offerings include providing artist advances, which can range from $1,000 to $10 million. Artists, songwriters and indie labels with over
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