COFIDES supports BMAT in its global expansion

COFIDES supports BMAT Music Innovation’s international expansion strategy with €577,000 in financing for growth in France and Singapore

COFIDES is supporting the internationalisation strategy of BMAT Music Innovation, a Spanish company specialised in music monitoring technologies, through the formalisation of two loans totalling €577,000 to finance its growth in France and Singapore.

Specifically, COFIDES has granted a €227,000 co-investment loan through the Fund for Investment Operations Abroad for Small and Medium-sized Enterprises (FONPYME) to finance the acquisition of the French software company Improvize, a firm with more than three decades of experience in the development of specialised software for the music industry.

Through this transaction, BMAT strengthens its position in one of the most relevant music markets worldwide and expands its technological capabilities to provide more powerful and scalable solutions for music publishers.

In addition, COFIDES has provided a €350,000 co-investment loan, also through FONPYME, to support the acquisition of a technology company in Singapore specialising in the monitoring and processing of music rights. This operation reinforces BMAT’s presence in Asia and complements its ability to cover strategic markets across the region.

COFIDES has been supporting BMAT’s international expansion since 2019, including the opening of subsidiaries in Argentina, the United States, the United Kingdom and Japan, as well as acquisitions in Italy, the United States and Japan.

Miguel Ángel Ladero, Director of COFIDES’ Investment Department, stated: “The international growth of Spanish technology companies such as BMAT demonstrates the ability of our business ecosystem to compete globally in high value-added sectors. With these transactions in France and Singapore, we are promoting projects that foster innovation, strengthen technological capabilities and reinforce Spain’s position in the digital economy.”

Salvador Gurrera, Chief Financial Officer of BMAT, added: “COFIDES’ support has strengthened BMAT’s capacity for growth through M&A operations and the opening of new subsidiaries. With these transactions, we have taken another step towards consolidating our position as the operating system of the music industry.”

ABOUT BMAT

BMAT is a music technology company founded in Barcelona in 2006. From its offices in Europe, the Americas and Asia, it provides cutting-edge, customer-focused technology and services to music publishers, record labels, collective management organisations, digital service providers (DSPs), broadcasters and the creative community at large.

BMAT manages all stages of operations related to music and audiovisual rights and royalties across broadcasting, streaming, video on demand and user-generated content.

By simplifying complex copyright operations and leveraging economies of scale, BMAT’s music operating system enables more money to flow efficiently to music creators and rights holders, facilitating the distribution of more than €2 billion in royalties every year.

ABOUT COFIDES

COFIDES is a Spanish state-owned financial institution that manages public funds, as well as its own resources and those of third-party institutions, with multiple objectives: supporting the internationalisation of the Spanish economy, attracting foreign investment into strategic sectors in Spain, promoting impact investing in Spain and contributing to the development of the countries in which it invests.

In addition to the Spanish State, which holds a majority stake, COFIDES’ shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF – Development Bank of Latin America