Payments platform Mozaic.io has secured $20 million in a Series A funding round led by Volition Capital, a growth equity firm based in Boston. The investment is a significant milestone for Mozaic.io, known for revolutionizing revenue and royalty splits for creative professionals. Unlike traditional payment apps, Mozaic.io caters specifically to the creator economy, offering automatic split payments for collaborators across various domains, including music, podcasts, social content, gaming, eCommerce, and more.
Mozaic.io’s standout feature is its advanced API, allowing seamless implementation of ownership splits and automated payments, a departure from the manual methods used by conventional platforms. The platform’s proprietary AI further assists creators in discovering collaboration opportunities, managing risks, and gaining financial insights.
CEO Marcus Cobb emphasized the importance of seamless compensation in the global creator economy, stating that there is a massive demand for a solution that enables simple and transparent payments, addressing the common issue of delayed or distressed collaborative payments.
The funding will fuel new product development, including a self-serve feature for creators to manage collaborations and integrate with platforms like YouTube, Twitch, and Shopify. Mozaic.io also plans to expand its teams, aiming to double its current headcount of 24 by the end of 2023.
Larry Cheng, Managing Partner at Volition Capital, highlighted Mozaic’s position as a go-to solution for automating multi-party payments in the evolving landscape of content creation and consumption.