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Sanil Chawla remembers the meetings he had with innumerable artists in college . Those creatives were looking for one thing : sustainable economic infrastructure that could help them scale rather than overwhelm them in paperwork , filing and tracking down receipts .
Chawla thought he might have a solution and establish a music monetization platform in 2020 . During the pandemic , he pivoted the company into what it is today : Slingshot , which help creatives find the tools they need to manage operational requirement . It even put up its own incorporated card to help further centralize fiscal transactions into its program .
“ Too many talented creators today are forced to spend unnumerable minute navigating the complex financial and business challenge of being self - employed , ” Chawla told TechCrunch . “ Our goal is to leverage technology to dramatically simplify those tasks , empowering creatives to focus on what they jazz . ”
On Monday , the society announced a $ 2.2 million pre - seed troll , with involvement from Dorm Room Fund , 1916 Enterprises , Key Partners Group , and holy man investor Vincent Francoeur , former head of web and mobile at Blizzard .
Slingshot emerged in the aftermath of the booming $ 250 billion Almighty economic system , but it ’s not the first company to try and build up out base for this bustling thriftiness . It say it differentiates itself by centralizing its features and data point , offering automated bookkeeping link to its business visiting card . It also works with banks to facilitate financial transactions , take into account creatives to manage their investment company , make transfer , and send payment . Its principal BaaS partner for customer accounts is Stripe through its Treasury and Issuing syllabus .
It offer other features like get creatives save a percentage of their taxation and offer benefits like health care and retreat . It acts like HR and handles legal filing and revenue enhancement paperwork . Chawla , now 24 , aver it took four years to raise the pre - seed stave since the company invoke in mickle . It lead smaller angel checks in 2020 and then pivoted to its current loop in 2023 .
Slingshot pop as a fellowship that provide legal and financial substructure to musicians to develop their consultation without a label , and in a way that still lets artists control a bulk ploughshare of their royalties . It raised $ 50,000 from that estimate , then another $ 1.2 million to build it out . In previous 2022 , the company pivoted . Its client wanted more of a financial production , and Slingshot followed what the client were asking for . It then spent last yr and this yr fund raise to close an extra $ 1 million in funding , land the company to where it stands today .
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seem onwards , Slingshot has ambitious plans . It intends to stir monetary resource again in the coming year , leveraging the $ 2.2 million pre - seed circle to enhance its feature offerings . This includes the development of an AI supporter , with the objective of revolutionizing how creatives manage their operations . Chawla said that better tools and substructure for the creative economic system can aid enable more creativity and diverse artistic expression . “ We ’re still early in the journey , but I ’m invigorate by the encroachment we ’ve had so far and all the potentiality ahead to do so much more , ” he said .
This piece was update to reflectthe spelling of Vincent Francoeur‘s name .
