Portuguese startup Tradiio wants to raise 600 thousand euros for 13% equity

  • ECO News
  • 12 October 2016

The company wants to enter the United States market and expand its model to millions of artists.

The Portuguese company Tradiio, a music streaming service, has launched the largest crowdfunding initiative ever performed by a Portuguese company. This startup is resorting to Seedrs, the largest equity crowdfunding service in Europe, in order to raise 600 thousand euros in exchange of 13.03% equity.

The campaign has already reached 37% of its goal and it will be seeking investment for the next 60 days. If Tradiio manages to raise the 600 thousand euros investment they seek, the company will be valued at 4 million euros, which will allow its launch to the United States and expand its model to millions of artists.

"There is no better way to show that crowdfunding works then to do the next round through the same resource. This is the perfect opportunity to get the Portuguese community involved in internationalizing Tradiio to the US.”

Álvaro Gomes, Tradiio's CEO

Tradiio is a platform for discovering and launching new musical projects, having over 30 thousand registered artists, coming from a variety of countries. The service allows for users to subscribe directly to artists, involving a monthly cost, to help music creators achieve a certain goal. In exchange, users have exclusive access to the artists’ creations.

This year, Tradiio was in 10th place in the Disruptive List, a ranking by Disrupt 100, because “No other platform has effectively blended music streaming with direct-to-fan crowdfunding.” Tradiio has managed to not only launch new artists, but to “provide a sustainable way for them to monetise their [artists] content”.