Billboard reports: “Royalty Exchange, an online marketplace where songwriters can sell a portion of their royalty stream, announced on Monday that it closed a $6.4 million convertible note to help fuel its growth. The outsized haul — an original benchmark for this round was $3 million — will go towards new hires and investment in technology. Led by CEO Matthew Smith, the company connects rights holders with private investors looking to buy a portion of a writer’s royalties through an online auction process.”

Read more