Reports suggest war-chest comes just in time for the music service's US launch.
Spotify is expected to launch the US version of its streaming music service in July, and the company will now have a pile of money with which to do it.
Reports from All Things Digital and GigaOM both claim that Spotify has closed a funding round of around $100 million, with participation from VC firms Kleiner Perkins and Accel, as well as Russian investment group DST.
The funding is thought to value Spotify at $1 billion - a value that's eminently believable in the wake of the IPO last week of US personalised radio firm Pandora.
Spotify has been a hit in Europe, and the company is now training its sights on the US, with a launch team in place, and deals reportedly signed with three of the four major labels.
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