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Streamer Boomplay Music Raises $20 million

Boomplay-Music-logo-canvasAfrican based music streamer Boomplay Music has raised $20 million in Series A funding to expand across Africa. The company reports more than 44 million app downloads and is adding an average of 2 million new subscribers monthly.

Boomplay is a joint venture of  Chinese phone maker Transsion and Chinese consumer apps giant NetEase. The new funding is coming from Chinese investors Maison Capital and Seas Capital, with other undisclosed investors. The company has raised $25.5 million to date.

“Our vision is to become not only a music streaming service, but we aim to be the number one player in the whole music ecosystem for African music, said CEO Joe He.

Boomplay recently signed deals with Warner Music Group and Universal Music Group.

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