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# SoundCloud Gets A Lifeline: $70 Million In Debt Financing
- URL: https://www.hypebot.com/soundcloud-gets-a-lifeline-70-million-in-debt-financing/
- Published: 2017-03-23T16:49:22.000Z
- Updated: 2017-03-23T16:49:22.000Z
- Description: After publicly admitting that it could run out of cash later this year, SoundCloud has received $70 million in debt financing. The company had, for months, tried and failed to. Continue reading [https://www.hypebot.com/hypebot/2017/03/soundcloud-gets-a-lifeline-70-million-in-debt-financing.html]
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Streaming, Balance sheet, Business Insider, Credit rating agency, Finance, Financial Times, Gross domestic product, Inflation, Loan, London, Twitter, #wp, #wp-post, #Import 2026-01-21 10:13

[![SoundCloud_logo (1)](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c8e399a9970b-200wi "SoundCloud_logo (1)")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c8e399a9970b-popup?ref=hypebot.com)After publicly admitting that it could run out of cash later this year, SoundCloud has received $70 million in debt financing. The company had, for months, tried and failed to raise $100 million in venture financing.

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[![SoundCloud_logo](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c8e399d8970b-350wi "SoundCloud_logo")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c8e399d8970b-popup?ref=hypebot.com)

Struggling music service SoundCloud has received a much needed $70 million loan from Kreos Capital, the Davidson Technology Growth Debt Fund and Ares Capital. Prior to this round, SoundCloud had raised $123 million, including $70 million from Twitter last year.

"We are pleased to have secured a flexible $70 million credit line from Ares Capital, Kreos Capital and Davidson Technology that is ideally structured for a company with our strong credit rating and in our stage of growth," SoundCloud said in a statement. "This new funding will enable SoundCloud to strategically grow our technology and personnel resources to fuel our expected 2.5 times year-over-year growth in 2017, while building a financially sustainable platform on which our connected community of creators, listeners and curators can thrive for years to come."Business Insider, who first [reported](http://www.businessinsider.com/soundcloud-raises-70-million-debt-funding-companies-house-documents-2017-3?ref=hypebot.com) the new funding, offered this snapshot of SoundCloud's finances, as of its 2015 reporting: [![image from static4.businessinsider.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c8e39997970b-500wi "image from static4.businessinsider.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c8e39997970b-popup?ref=hypebot.com)

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