Corite
This Music Tech Startup Lets Fans Invest in Artists and Reap Returns from Their Streaming Income
Corite, a new music tech startup that enables fans to invest in their favorite artists and receive real financial returns on their contributions, recently announced the close if its initial seed round. The April launch of the company’s “fan-funding” platform in Europe followed the conclusion of its Series A round, which closed at €600K, according to a report by EU Startups. Corite’s unique business model allows fans to invest in a musical artist and receive real-time returns on their investment, which comes from the artist’s future streaming income based on a previously agreed upon percentage. It’s essentially a win-win situation for both parties, since the artist can use any money raised to market their music before sharing the revenue with fans, w...
