Capital · acquirer
Utopia Music (Proper Music Group)
Music fintech acquirer, Switzerland · Outside the United States
- Founded
- 2016
- Entered
- 2016
- Status 2026
- Rebranded
- Metro
- Outside the United States
- Embeddedness
- 1 connections
- Confidence
- verified · strongest source trade or financial press
Method
Utopia Music is a Zug, Switzerland fintech under Mattias Hjelmstedt that buys Musimap in September 2021 and Nashville's Lyric Financial in October 2021 for 8 million dollars, then cuts about 100 staff or 15 percent in April 2023 amid tax debt allegations, cycles through chief executives, shuts offices and renames itself Proper Music Group. A US court orders it in July 2024 to pay about 1.863 million dollars to Lyric's former owners. The founding year is from general knowledge.
People: Mattias Hjelmstedt
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The path: money and goods moving
- acquiredLyric FinancialUtopia Music acquires Lyric Financial on October 29, 2021 for 8 million dollars including two deferred 1.5 million dollar payments, the last of which becomes the subject of a 2023 lawsuit and a 2024 award of about 1.863 million dollars.2021
Sources (trade or financial press): musicbusinessworldwide.com · musicbusinessworldwide.com · musicbusinessworldwide.com