Stem offers advances via new ‘Scale’ funding product, allowing artists to keep 100% of their masters

‘We think Scale advances are going to shake things up’
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After pivot away from DIY distribution, Stem welcomes ex-Venmo COO Mike Vaughan to Board of Directors

Fintech expert will “provide industry insights and connections that will propel Stem’s artist and label offerings”
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Having raised $12.5m, Stem quits DIY distribution, increases its fees and focuses on ‘top performing artists’

Firm launches ‘Stem Direct’ which it says will super-serve VIP artists
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Financial platform Stem, which counts Frank Ocean and Childish Gambino as clients, raises $8m

Total money raised so far by royalties software tops $12.5m
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