Deezer, the Paris-based music streaming service, has secured $130 million in what is being called the largest-ever funding round for a startup in France.
The fundraising — led by Access Industries, the Len Blavatnik-owned U.S. company that bought Warner Music Group last year — should help drive the Spotify-like service as it makes a push to launch in more countries.
Deezer, which is popular in France but has been slow to reach audiences abroad, went live in Canada, Australia and New Zealand in April.
"This investment comes at the right moment to change the scope of ambition," CEO Axel Dauchez told the European edition of the Wall Street Journal.