- Block, the San Francisco-based payment solutions specialist, has acquired musician-focused fintech start-up Hifi.
- Hifi, based in Brooklyn, was founded in 2020 to offer music artists transparent insight into their royalty earnings.
- Hifi’s Cash Flow product provides a real-time royalty acceleration service, enabling musicians to receive bi-weekly payments.
- Block’s acquisition of Hifi aims to enhance economic empowerment for artists through financial technologies and services.
- Block previously acquired music streaming service Tidal in March 2021 for $297 million, connecting artists with financial services.
- Block also owns other payments-focused businesses, including Cash App, Afterpay, and TBD in its financial services suite.
