Richard White, former CEO of WiseTech Global, increased his stake in ASX-listed Vinyl Group through his investment in music licensing startup Songtradr.
Vinyl Group has partnered with Songtradr to manage and sell advertising across its platforms.
White's investment vehicle, Realwise Holdings, acquired a convertible note worth $1.56 million and a significant number of vested options in Vinyl Group.
Vinyl Group CEO Josh Simons stated that the deal improves the company's financial position and helps reduce debt.