Luxembourg - Jamendo, a free music download site featuring 40,000 tracks offered without digital rights management under a Creative Commons license, has raised an undisclosed sum in its first round of financing, led by Mangrove Capital Partners.

Luxemourg-based Jamendo said that three million albums have been downloaded so far from its site, which claims 500,000 unique visitors per month.

The company shares half of advertising revenue generated on the site with artists.

"With this funding, we plan to become the undisputed global player of free music," said Jamendo founder and CEO Laurent Kratz.

"More than a music sharing platform we are economically supporting and promoting the long tail of music. We have a proven business model where music is not only proposed for free to end consumers but we are also closing an increasing number of partnership agreements and licensing deals."

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