From Music Business Worldwide · · 1m 20s
Beatport Secures Square Nine Capital Financing
Beatport gets new funding from Square Nine Capital to boost its music platform.
In brief
Beatport gets new funding from Square Nine Capital to boost its music platform. Beatport secured new financing led by Square Nine Capital to refinance existing credit and expand its platform for global music creators. Originally reported by Music Business Worldwide.
Beatport Secures New Financing
Beatport, the music platform for DJs and producers, has secured new financing led by Square Nine Capital.
Refinances Existing Credit Facility
The deal refinances an existing Beatport credit facility and brings additional capital into the company.
Square Nine Capital Details
Square Nine Capital provides debt investments at or near the top of the capital structure without taking control equity stakes.
Beatport's Expansion Strategy
The deal will provide Beatport with additional flexibility to invest across its platform, products and broader ecosystem as the company expands its offerings for music creators globally.
Axar Capital Ownership
Axar Capital, identified as Beatport’s majority owner in 2022, sat on the board of directors when the company expanded its board.
Leadership Transition
Matt Gralen became CEO of Beatport three months after succeeding Robb McDaniels as President and Chief Financial Officer in April.
Growth Under McDaniels
Beatport’s revenue more than quadrupled under Robb McDaniels, and its annual customer base passed one million.
What to remember
Beatport secured new financing led by Square Nine Capital to refinance existing credit and expand its platform for global music creators.
