(Hypebot) – To date, Spotify has raised $1.56 billion including a $500 million convertible note in January of this year. Now comes word that the music streamer is closing in on another major funding round.
Spotify is close to closing a new $500 million funding round with investment giant TPG Capital. But according to sources close to the deal, that stake could increase to as much as $1 billion in loan notes, according to Sky News.
The funds could be used to purchase competitors in the likely consolidation ahead.