Serial entrepreneur and former recording artist Victor D. Lombard, often known as DIVINE, introduced this week the launch of a brand new firm, in partnership with RAKIM, certainly one of hip-hop’s most influential emcees.
The corporate is referred to as Notes, a fintech particularly for impartial city musicians and creators. It gives the data and instruments to assist artists handle their careers — akin to offering sources to assist them apply for loans or entry credit score scores. It gives monetary literacy and music enterprise training by providing multimedia programs, step-by-step guides on monetary administration and find out how to monetize music. It additionally has a characteristic that lets artists write lyrics and join with their friends on the app.
Notes has a “digital passport” characteristic that lets customers observe credit score scores, entry loans, and finances instruments. The corporate companions with lenders and collectors and earns a fee on referral charges when customers apply for loans by way of the platform.
The app, at the moment in beta, has AI instruments, together with an AI voice assistant in RAKIM’s voice. It’s hoping to launch totally on the finish of February.
Chatting with TechCrunch, DIVINE mentioned he was impressed to launch this firm alongside RAKIM due to his firsthand expertise coping with the indie city music scene and the hardship that comes when attempting to fund a profession. It’s well-documented, by way of motion pictures, profiles, and music itself, that breaking into the music trade is difficult and costly. For each big-named artist that hits the charts, there are 1000’s merely struggling to get by.
“The music industry, as it stands, is structured to take advantage of artists through exploitative contracts and limited financial resources, forcing them into predatory deals just to survive,” he mentioned. Having spent the previous 10 years constructing fintech corporations, he additionally mentioned he’s come to view know-how as an incredible equalizer, a solution to redistribute management again to artists and creators. DIVINE beforehand based fintech BLAK, which targeted on serving underbanked communities, and constructed Solvent, a neobank additionally for underserved communities.
So he considered Notes, to permit musicians to teach themselves, fund their very own tasks, and construct careers on their very own phrases. He mentioned now is an efficient time for this product as a result of indie artists and creators have gotten extra highly effective and influential, but nonetheless lack numerous monetary assist.
DIVINE then pitched the corporate to RAKIM’s group as a solution to companion, and “it became an even more powerful force for change,” DIVINE mentioned.
RAKIM is a part of the hip-hop group Eric B. & RAKIM, which made waves throughout the golden age of hip-hop throughout the 80s. Their album “Paid in Full” was listed as one of many Biggest Albums of All Time by Rolling Stone in 2020 because it was one of many first albums to make use of funk samples and influenced the stream and lyricism of rappers to return.
DIVINE says he’s recognized RAKIM for 20 years and all the time admired him for “staying true to his artists and principles.”
“When I started ideating Notes, I knew it had to be more than just a fintech platform, it had to be a movement rooted in the values of empowerment and cultural authenticity,” DIVINE continued. “That’s why it made perfect sense to bring RAKIM on board.”
The partnership sees RAKIM come on as a co-founder and as an advisory board member. RAKIM’s son, Tahmell Griffin, additionally holds an govt place on the firm.
Proper now, the corporate is self-funded, however DIVINE mentioned the corporate is in search of a pre-seed spherical. Notes gives freemium and premium subscription memberships. It seeks to earn a living from its subscription fashions and referral charges. He says this firm is the end result of his music and technological journey.
“I want Notes to shift the narrative from artists being exploited by record labels to artists owning their financial future and career success,” DIVINE mentioned. “If an artist can use Notes to get funding for their next album, learn how to run their music career as a business, and leverage community collaboration for growth, then we’ve succeeded.”
