We’re pleased to inform you that all loans associated with Utopia Music AG (now Proper Group AG), funded through the Esketit platform, have been fully repaid. 

This project was a strategic collaboration between Esketit and i2, offering users exposure to music advances backed by future streaming royalties. Despite Utopia Music, a Swiss music tech company, entering liquidation in November 2024, repayments to Esketit users continued without interruption. 

The final repayment was completed by the end of Q2 2025 – more than two years ahead of schedule. This is a significant achievement that reflects the strength and effectiveness of the risk management frameworks employed by Esketit and the i2 Group. 

These loans were issued through a Special Purpose Vehicle (SPV) that provided cash advances to artists in return for future royalty income from platforms such as Spotify. The structure ensured that Esketit users had a senior position in the repayment queue, coupled with enhanced oversight and data-driven risk management. 

Even as Utopia went into administration, the i2 Group, with support from Esketit, maintained full operational control of the SPV. Leveraging advanced royalty-tracking systems and legal expertise, they ensured that payments continued reliably throughout the period. 

As a result, all users received their principal and interest in full, with zero losses – an exceptional outcome in the alternative lending space. 

Encouraged by this success, Esketit and i2 are continuing their partnership to make this type of loan available again in the near future. 

Thank you for your continued trust.