Corite is the Swedish startup that is trying to offer a new spin on fan-funding, with people able to invest in artists’ music, and take a share of the streaming profits.
Now the company is launching in the US, alongside a partnership with Hitco, the company co-founded by producer LA Reid. The companies will be working together to spot emerging artists.
The US launch comes after more than 200 campaigns on Corite’s platform in Europe. The company has also raised a new round of seed funding, with Hitco among the investors leading it. “The partnership with Hitco means that we will have an experienced and talented American team at hand, ready to scale up and create a more democratic playing field for artists,” said CEO Mattias Tengblad.