launched in 2013, now announces that they have obtained 1.9 million Euro from a group of Belgian investors, as well as more than 500,000 Euro from the public in a crowdfunding campaign. neoScores says that 1.2 million Euro comes from a trio of venture capitalists, while the remaining 700,000 Euro has been provided by a “consortium of business angels” that includes Theodorus III, Cultuurinvest, and SOFI.
With regard to the crowdfunding, neoScores turned to investment platform Bolero, offering 20.95% in exchange for 530,000 Euro. They have surpassed that goal by taking 580,000 Euro from 184 investors, with another 19 days left in the campaign. In a release from the company, the decision to reach out to the public for financial backing, even as they picked up funding from other sources, emerged from a desire to expand their userbase.
Backed by the new funding, neoScores intends to open up a marketplace for musicians and music publishers, expanding their catalogue, setting up a web shop, and continuing to expand internationally. This sort of growth typically requires hiring additional staff and they are planning to do just that, as well.