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, one in all hip-hop’s most influential emcees.
The firm known as Notes, a fintech particularly for unbiased city musicians and creators. It offers the information and instruments to assist artists handle their careers — akin to offering sources to assist them apply for loans or entry credit score scores. It offers monetary literacy and music enterprise schooling by providing multimedia programs, step-by-step guides on monetary administration and monetize music. It additionally has a function that lets artists write lyrics and join with their friends on the app.
Notes has a “digital passport” function that lets customers observe credit score scores, entry loans, and price range instruments. The firm companions with lenders and collectors and earns a fee on referral charges when customers apply for loans by the platform.
The app, at present in beta, has AI instruments, together with an AI voice assistant in RAKIM’s voice. It is hoping to launch absolutely 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 making an attempt to fund a profession. It’s well-documented, by motion pictures, profiles, and music itself, that breaking into the music business is tough and costly. For each big-named artist that hits the charts, there are 1000’s merely struggling to get by.
“The music business, because it stands, is structured to reap the benefits of artists by exploitative contracts and restricted monetary sources, forcing them into predatory offers simply to outlive,” he mentioned. Having spent the previous 10 years constructing fintech firms, he additionally mentioned he’s come to view expertise as an incredible equalizer, a solution to redistribute management again to artists and creators. DIVINE beforehand based fintech BLAK, which centered on serving underbanked communities, and constructed Solvent, a neobank additionally for underserved communities.
So he considered Notes, to permit musicians to coach themselves, fund their very own tasks, and construct careers on their very own phrases. He mentioned now is an effective time for this product as a result of indie artists and creators have gotten extra highly effective and influential, but nonetheless lack plenty of monetary help.
DIVINE then pitched the corporate to RAKIM’s crew as a solution to accomplice, and “it turned an much more highly effective drive for change,” DIVINE mentioned.
RAKIM was a part of the hip-hop group Eric B. & RAKIM, which made waves in the course of the golden age of hip-hop in the course of the 80s. Their album “Paid in Full” was listed as one of many Greatest 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 move and lyricism of rappers to come back.
DIVINE says he’s identified RAKIM for 20 years and all the time admired him for “staying true to his artists and rules.”
“When I began ideating Notes, I knew it needed to be greater than only a fintech platform, it needed to be a motion rooted within the values of empowerment and cultural authenticity,” DIVINE continued. “That’s why it made excellent sense to carry 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 government place on the firm.
Right now, the corporate is self-funded, however DIVINE mentioned the corporate is looking for a pre-seed spherical. Notes provides 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 need Notes to shift the narrative from artists being exploited by document labels to artists proudly owning their monetary future and profession success,” DIVINE mentioned. “If an artist can use Notes to get funding for his or her subsequent album, discover ways to run their music profession as a enterprise, and leverage neighborhood collaboration for development, then we’ve succeeded.”
