We’ve found one for the older (wealthier) dealmakers – and the aspirational types!
Auctions giant Christie’s has taken a stake in Australian-born-and-bred fintech Art Money, which is a buy now, pay later service for art purchases.
Christie’s is understood to have taken a significant minority stake via its corporate VC arm, Christie’s Ventures, and has committed to a strategic agreement.
The deal is expected to give Art Money access to some of Christie’s’ customers in return for KYC and AML services that are increasingly relevant in the global art scene.
It’s not the biggest deal that’s crossed Street Talk’s desk this week, but it’s an interesting one. Art Money is also trying to raise funds following the investment by Christie’s.
The music rights licensing business is asking investors for another $US20 million or so in fresh funds via Morgan Stanley’s Wealth unit and boutique advisory Bennelong Capital.
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