Christie's invests in Art Money
MEDIA RELEASE 16 February 2023
Art Money is pleased to announce that Christie’s auction house, through Christie’s Ventures, has made an equity investment in Art Money for a non-control minority stake.
The investment follows extensive due diligence and a 6 month engagement process and is one of Christie’s Ventures first investments in fin-tech.
From Christies: Devang Thakkar, Head of Christie’s Ventures
Art Money is uniquely positioned to offer their financing services and products to those businesses and individuals that are the bedrock of the art markets – galleries, art fairs, collectors, and auction houses. We were very impressed by the thoughtful approach Paul and team took to building out a sustainable and integrated business model that we believe will usher in fully portable, dedicated financing for all participants in the art markets across all price points. Christie’s has long championed access and ownership to the arts for everyone and Art Money will play a crucial role in affecting that vision.
From Paul Becker: Founder & CEO, Art Money
We are delighted Christie’s Ventures has chosen Art Money as one of their first investments in financial innovation. This validation of our business model will accelerate our vision of increased access to art and an art world that helps shape tomorrow for the better. We are excited to continue growing Art Money’s global reach alongside such an aligned and future focused partner as Christie’s.
About Christie’s Ventures
Christie’s Ventures is a new enterprise engaging with earlier stage companies through direct investment and both brand support and market access. It helps startups to accelerate their build- out and adoption, while simultaneously advancing Christie’s leadership in the ecosystem around fine art and luxury goods. Christie’s Ventures will start by exploring three broad categories: Web3.0 innovation, art related financial products and solutions and technologies that enable seamless consumption of art.
About Art Money
Art Money makes it easier for people to buy the art they love, by enabling them to pay over time instead of upfront. Art sellers and artists get paid immediately. Art Money is a global fin-tech with 1,700 gallery partners from 50 countries and 6,800 clients, growing daily, across the US, UK, Australia and New Zealand. Art Money supports culture and a sustainable creative economy through best practice fin-tech, offering finance (pay over time, interest free), reg-tech (AML/KYC services) and (in future) payments for the art world.