Brazilian music fintech Strm has announced a partnership with Cartel World Produções Artísticas, an urban music label that also produces films, music videos, and manages musical talents. Through this collaboration, Strm will offer financial advances to all independent artists under the Cartel World brand, along with technology to accelerate their careers. To enable these operations, Strm secured an initial fund of R$ 20 million dedicated exclusively to Brazilian artists, raised in partnership with Professional Credit Market Funds.
Known in the music industry as an “Advance,” this financial resource anticipates the receivables that an artist is expected to earn over a set period. In addition to the advance, the Cartel do Funk label will receive strategic recommendations powered by technology to help artists plan their next career steps more effectively. Cartel World is part of Strm’s growing list of partners, following the recent announcement that sertanejo duo Henrique & Juliano have joined as investor-partners.
“Until now, the market couldn’t scale these advances efficiently because the analysis process was complex and manual — meaning these resources were only available to artists at more advanced stages of their careers. Today, with the services and technologies we’ve developed, we can establish large-scale partnerships and support the rising talents and trends in Brazilian music,” explains Fernando Gabriel, CEO of Strm.
Fernando Gabriel, CEO of strm, talks about the fintech’s new music advance feature for independent artists. Photo: Disclosure
André Pimentel, CEO of Cartel World Produções Artísticas, emphasized the importance of Strm and expressed strong confidence in the partnership and upcoming projects.
“It is an honor for us, as part of one of the fastest-growing segments in the country, to have market strategies developed in collaboration, as well as to allocate resources towards accelerating the careers of our talents — as we call all the artists signed under the Cartel World conglomerate,” adds André Pimentel, who, in addition to being CEO, has also spent years on stage performing as ‘MC Danado.’
Strm partners with the Cartel World label to advance R$20 million to artists. Photo: Disclosure
A Strm tem uma base de dados que monitora mais de 5 milhões de artistas no mundo e mais de 150 milhões de faixas. De acordo com a empresa, dessa forma é possível entender padrões de comportamento, de consumo, de performance por faixa, por país, por gênero musical, por tipos de artistas em diferentes estágios de carreira.
