Qobuz raise €10 million to take their hi-res music service global

Qobuz have been taking on the big streamers for a few years now with a focus on Hi-Res and their latest funding pushes them even further globally.

French music streaming service have been operating for a few years now, but compared to the rest of the streaming scene they are the fresh faces. Last year they made two big moves: launching in the U.S. and ditching MP3 to focus entirely on high resolution music.

Following a new round of funding, Qobuz are poised to expand even further around the globe. They have raised €10 million following their previous round of capital earnings last August which raised them €12 million.

The company states they are “now pursuing a major development plan” with significant funding and over 45% growth in their last fiscal year. They are now planning an “unprecedented” recruitment drive for the year.

Qobuz chairman and CEO, Denis Thébaud says: “We are very proud of our latest fundraising milestone of 10 million euros, which shows our historical shareholders’ confidence in our model. The end of the year promises to be full of exciting projects for Qobuz.”

Qobuz is currently available in the U.S., U.K., Ireland, Germany, Austria, Belgium, Switzerland, Luxembourg, the Netherlands, Spain, and Italy. It will be exciting to see where they go next.

Head of Social Media and Marketing, RouteNote

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