The Cologne-based startup has just announced raising €10 million from its existing investors like Dumont Venture, Earlybird and the NRW Bank. The Spotify competitor, which is available in German and English, will use the fresh capital for its internationalization plans. Its expansion into other European countries is planned for the second half of 2011.
Simfy was founded in 2006 by Steffen Wicker and Christoph Lange. The platform officially launched in May of 2010 and has already over one million registered users. In order to grow its userbase, Simfy is partnering with the German social network StudiVZ and other big internet players out of Germany.
Curious about Music Tech Startups? Check out these articles on Europe’s music tech startups, and their funding rounds, acquisitions, mergers and more.