BeatBread co-founder and CEO, Peter Sinclair, has died following a short illness. He was 50.
Sinclair passed away on Saturday (August 23) surrounded by his family in Los Angeles.
In a statement to media, beatBread called Sinclair “an extraordinary leader and an inspiring visionary in the music and fintech industries”.
Before co-founding beatBread, Sinclair worked for companies including Universal Music, Score Big, Green Dot, and McKinsey.
“He was also a beloved husband, father, friend and colleague whose warmth, wisdom and passion touched everyone fortunate enough to know him,” said beatBread’s tribute.
“Everyone at beatBread is shattered by this news. Peter was a passionate and dedicated leader, whose unshakable belief in the importance of artist independence has helped inspire every decision we’ve made.”
John Haller
The company continued: “The entire beatBread community – employees, leadership, our investors, and partners – stand united in both grief and purpose. We are mourning the loss of a remarkable leader and friend, and we remain steadfast in carrying forward the mission that Peter built.
“Peter worked tirelessly to ensure that the vision for beatBread was shared, nurtured, and strengthened by the entire team around him. Together, the team will continue the work to which he dedicated himself with such passion.”
John Haller, who co-founded the company with Sinclair in 2020, commented: “Everyone at beatBread is shattered by this news.
“Peter was a passionate and dedicated leader, whose unshakable belief in the importance of artist independence has helped inspire every decision we’ve made.
“We mourn him deeply, and we’re as committed as ever to honoring his legacy as we move forward.”
Music financing platform beatBread has provided advances to over 1,300 artists to date, with funding amounts spanning from $1,000 to over $10 million.
Earlier this month, beatBread confirmed that it had secured USD $124 million in new financing, via a combination of credit and equity capital.
The equity side of the investment came from Citi, Deciens Capital, Mucker Capital, and Advantage Capital.
Additional credit was provided by GMO and other lenders.
Said the company today: “Since its founding, beatBread has focused on widening access to capital for independent artists, songwriters, and labels.
“beatBread’s financing is structured to allow artists to retain ownership and creative control, principles that reflected Peter’s deep commitment to artist independence.”
Music Business Worldwide
