Platform Connects Accredited Crowdfunding to Music Royalties
TweelX, a Nashville-based startup that launched its patent-pending Music Stock Exchange® in 2013, has raised $200,000 in series A funding. Three investors participated in the transaction last month, including La Ragazza & Associates and Atlantic Merchant Capital Investors.
“This funding transaction is part of a broader plan to leverage our past accomplishments and to bring to market new ways to invest in music industry assets,” said Chase Tweel, the company’s co-founder and CEO. “Our new financial partners will be strategically valuable to our future plans.”
Also integral to TweelX’s growth plan is its exclusive broker-dealer relationship with Nashville-based merchant bank 2nd Generation Capital. In addition to assisting in the marketing of TweelX, 2nd Generation Capital has also provided administrative support and consultation while the company has been developing a variety of music-oriented investment products.
“We were initially intrigued by the single-song copyright share concept of the Music Stock Exchange,” said Jim Ward, a principal and director of 2nd Generation Capital. “Since collaborating with the TweelX management team, we’ve been impressed with the detail and sophistication under the hood of the platform. We’ve also been energized by the company’s continued creativity and look forward to the upcoming launch of its new product offerings.”