VNYL is a music discovery subscription service. Based on personal tastes and music consumption, VNYL curates up to three records a month for its customers.
Founder Nick Alt has been a life long record collector. He realized that it’s hard to discover new music in a digital era without brick&mortar stores.
To help people who missed the physical experience of listening to classic albums, he designed VNYL to be a modern record store clerk.
VNYL hit an acquisition plateau and needed a manageable, repeatable way to scale their recurring subscription business.
Clearbanc saw that their business model was working and continues to fuel their growth with multiple investment topups as needed.
VNYL's CEO has retained 95% ownership of the business thanks to Clearbanc's equity-free funding.
VNYL is no longer capped by how many customers they can acquire within a given time frame.
VNYL has taken 5+ topups since their initial round of Clearbanc funding. They can quickly get a boost whenever they need it.
"Taking money for the purpose of acquiring customers when it’s diluting your own stake in the company is a very expensive exercise for most founders.
With Clearbanc I’ve retained 95% ownership of the company without slicing off more of the pie in exchange for capital for growth.”Nick Alt CEO & Founder, VNYL