Dominican rapper and dembow star El Alfa has signed a multi-million deal in the eight figures with music industry finance firm Sound Royalties.

After evaluating El Alfa’s revenue streams, Sound Royalties will advance El Alfa the sum of money ahead of his upcoming tour and album, El Rey Del Dembow — set for release Oct. 19 on his own El Jefe Records. The advance contemplates the full range of El Alfa’s income, including his catalog, his upcoming recordings, his streaming numbers and his tour income.

“I’ve been speaking with Sound Royalties for years, and the time finally made sense for us to work together. The best advice I ever received was from [Sound Royalties CEO/founder] Alex Heiche and his team, telling me to register and organize my royalty streams and that whatever I do – don’t sell,” El Alfa said in a statement. “It was because I didn’t sell that I am now able to leverage my back catalog to invest in my future. This multi-million-dollar funding will be instrumental in continuing to build my legacy and cement my influence in the Latin music space.”

Founded in 2014, Sound Royalties specializes in royalty financing for music creatives, independent labels, publishers and distributors. The company is a subsidiary of GoDigital Media Group, the company founded by Jason Peterson that also includes indie label and distributor Cinq Music Group and social media rights manager AdShare.

Sound Royalties’ business model isn’t predicated on projections of revenue, but rather, based on what an artist already has generated. The company gives creatives an advance and sets a set fee to be paid back in addition to the original advance. That set fee, says Heiche, does not change.

“There is no penalty and we don’t take copyright or ownership,” he says. “At first it [some thought it] was too good to be true, and now they realize it is true. It is a good model.”

Currently, the company works with music creatives in 16 countries across all genres, and has partnered or worked with artists like Pitbull, Alejandra Guzman and DJ Khaled.

In El Alfa’s case, Sound Royalties is financing what Heiche describes as “existing income streams. It’s not a projection. It’s what he’s already doing. We did an analysis of what his revenue streams are generating and they’re very impressive. His numbers justify the advance we’re giving him.”

“Alfa has carved out a legacy of his own in the Latin music community, pioneering his own style of Dembow music[…] It’s an honor to be the financial partner that he has chosen to fund his continued growth for years to come.”