London - Kerchoonz.com, a music-focused social network that features DRM-free files and no advertising, announced that it has received a $490,000 investment from the Scottish Co-investment Fund.

Slated for a beta launch in September, Kerchoonz.com says it will pay registered bands, artists, DJs and songwriters every time their music is downloaded or streamed on the site, which will be free of both digital rights management and advertising.

The company says it will also pay users when the tell friends or musicians about the site.

"Fans want free music without the hassles of DRM or advertising, while musicians want appropriate compensation for the use of their music," said Christian Ulf Hansen, former director of writer/publisher relations at BMI Europe.

"Kerchoonz recognizes this reality and strikes the right balance by meeting the needs of both musicians and fans."

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http://www.kerchoonz.com