# SNAFU Records

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/snafu-records

- Industry: Media
- Headquarters: Stockholm, Sweden
- Website: www.snafurecords.com
- Total disclosed funding: $2.2M
- Latest round: Seed (Jun 18, 2023)
- Investors on record: 3

## About

SNAFU Records is a music funding company that supports artists through innovative financial solutions, leveraging data analysis to enhance artist visibility and promote diverse musical talents globally.Founded in 2018 and headquartered in Stockholm, Sweden, SNAFU Records provides funding to musicians based on their music catalog's earnings. The company has completed two deals, with the most recent deal occurring on June 18, 2023, during which it raised EUR 2 million in a SEED round led by Pophouse Entertainment, with participation from BlackWood Ventures and Universal Music Group, Inc. The CEO, Ankit Desai, has a background in music entrepreneurship.SNAFU's primary offerings revolve around their innovative Song Fund, which provides funding to artists generating over USD 5K annually from their catalog. This service enables musicians to receive advances against future royalties. Additionally, SNAFU employs a proprietary algorithm that analyzes extensive data sets to identify undervalued artists and tracks, enhancing their marketing and promotional efforts. The company operates globally, focusing on electronic music from India, funk from Brazil, and various other genres to connect artists with international audiences.In 2022, SNAFU Records reported a revenue of EUR 779,318.40 and an EBITDA of EUR -2,837,235.40, reflecting its investment in artist funding.In June 2023, SNAFU Records raised EUR 2 million, which will be utilized to expand its AI-driven A&R tool and support emerging artists. The company aims to enhance its service offerings and explore new markets, focusing on diverse genres to broaden its impact in the music industry.

## Funding rounds

- Seed, Jun 18, 2023, $2.2M — Universal Music Group, Inc., Pophouse Entertainment, BlackWood Ventures

## Investors

- Universal Music Group, Inc. — Seed
- Pophouse Entertainment (https://capitalatlas.ai/funds/pophouse-entertainment) — Seed
- BlackWood Ventures (https://capitalatlas.ai/funds/blackwood-ventures) — Seed