Slingshot raises $2.2 million to provide financial services to artists
Summary
Those creatives were looking for one thing: sustainable economic infrastructure that could help them scale rather than drown them in paperwork, filings and tracking down receipts.Chawla thought he might have a solution and launched a music monetization platform in 2020. Our goal is to leverage technology to dramatically simplify those tasks, empowering creatives to focus on what they love.On Monday, the company announced a $2.2 million pre-seed round, with participation from Dorm Room Fund, 1916 Enterprises, Key Partners Group, and angel investor Vincent Francoeur, former head of web and mobile at Blizzard.Slingshot emerged in the wake of the booming $250 billion creator economy, but its not the first company to try and build out infrastructure for this bustling economy. It also works with banks to facilitate financial transactions, allowing creatives to manage their funds, make transfers, and send payments. It took smaller angel checks in 2020 and then pivoted to its current iteration in 2023.Slingshot started as a company that provided legal and financial infrastructure to musicians to grow their audiences without a label, and in a way that still lets artists control a bulk share of their royalties. Were still early in the journey, but Im inspired by the impact weve had so far and all the potential ahead to do so much more, he said.This piece was updated to reflect the spelling of Vincent Francoeurs name.