African music streaming service Boomplay announced the close of its Series A round with USD 20 million from investors including Shenzhen-headquartered Maison Capital, KrASIA’s parent company 36Kr reported on Wednesday.
Boomplay is owned by Transsnet, a joint venture between Shenzhen-headquartered Transsion Holdings, the top phone vendor in Africa, and Chinese gaming company NetEase.
The company will use part of these funds to enlarge its pool of licensed songs. It already has the widest selection of music in Africa, overshadowing rivals such as Apple Music.
Boomplay was unveiled as a pre-loaded music player on Transsion’s Tecno smartphones in March 2015, and has 20 million monthly active users.
