SoundCloud starts 2016 with fundraising round

SoundCloud has raised 300 million krona (about $35 million) in debt funding. A representative for the online audio platform confirmed the arrangement with investment firm Tennenbaum Capital Partners. “It’s an attractive option for companies like SoundCloud that have a solid credit rating, and offers an appropriate funding option for a company at our growth stage,” the rep said.

SoundCloud recently signed a licensing deal with PRS for Music, which not only granted access to the UK group’s repertoire, but ended a brewing lawsuit between the two parties. It has also been on-again and off-again in seeking agreements with the major labels.

This also isn’t the only such action from the streaming field in recent months. Pandora also offered a private placement of $300 million in early December.