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# Spotify Nears New $500 Million – $1 Billion Funding Round
- URL: https://www.hypebot.com/spotify-nears-new-500m/
- Published: 2016-03-01T10:29:00.000Z
- Updated: 2016-03-01T10:29:00.000Z
- Description: 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. Continue reading [https://www.hypebot.com/hypebot/2016/03/spotify-nears-new-500m.html]
- Author: Bruce Houghton
- Tags: Music Tech, Streaming, music, #wp, #wp-post, #Import 2026-01-21 10:22

[![Spotify$](http://hypebot.typepad.com/.a/6a00d83451b36c69e201bb08c118f9970d-150wi "Spotify$")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201bb08c118f9970d-popup?ref=hypebot.com)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**.

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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](https://uk.finance.yahoo.com/news/tpg-eyes-500m-deal-tune-192502493.html?ref=hypebot.com).

The funds could be used to purchase competitors in the likely consolidation ahead.

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