SoundCloud raised $70 million in debt funding

Alex Ljung SoundCloudGetty Images/Nadine RuppSoundCloud CEO Alexander Ljung.

Music streaming service SoundCloud has raised $US70 million (£56 million) in debt funding, according to documents filed with Companies House in the UK.

The documents show that SoundCloud raised the loan from Kreos Capital’s fifth debt fund, as well as the Davidson Technology Growth Debt Fund. The loan was agreed on March 10, the documents show.

This isn’t the first time that the music streaming service has raised debt funding. In January 2016 it raised around $US35 million (£28 million) from Tennenbaum Capital Partners.

SoundCloud did not immediately respond to a request for comment.

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