Guitars, drums and pianos rarely appear in investment discussions. BATS, however, decided to bet on a little explored segment in Brazil by transforming musical instruments into an asset class with monthly returns, physical backing and potential on a national scale.
Founded in 2021 by the engineering couple Luíza Massari and Leonardo Nocito, the startup operates a subscription rental service for musical instruments. The audience is mostly made up of amateur musicians and students, as well as fathers and mothers of teenagers who are just starting to learn to play.
“Brazil is a very musical country, but access to music is expensive and restricted”, says Leonardo. The proposal is to allow people to experience music without the commitment of purchasing, offering a more affordable alternative – especially relevant for families who are still testing their children’s interest in instruments.
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It was based on this logic that BATS structured a model that connects access to music and investment in real-backed assets.
Musical instruments as an asset class
The model requires capital to acquire the instruments that enter circulation. To facilitate the expansion of the collection, BATS structured a portfolio of musical instrument assets, in which individuals can invest and receive, on average, a 2% monthly return on the value invested.
“The investor who is interested in this model backed by real assets buys a portfolio of instruments. BATS sets up this portfolio and divides the profitability: in general, half goes to the company and half to the owner of the assets”, explains Leonardo.
According to the CEO, the model has been gaining traction and should assume even more relevance in the coming months. “Investment by individuals is working very well, and the idea is to get on board with everything in 2026”, he says. The company is working on the development of a structured financial product, backed by musical instruments, which should be launched soon.
In the last 18 months, the startup distributed around R$988 thousand in income and raised R$2 million in this model. The resources are in addition to the R$465,000 raised in early 2025 through a crowdfunding round held on the MB | Bitcoin Market.
The origin of the model
The idea for BATS was born at home, literally. Music lovers, Luíza and Leonardo found themselves surrounded by stationary instruments, little time to play and a recurring question: why is it so difficult to access music in Brazil? After spending time in Malaysia, where Luíza studied an MBA and Leonardo worked at an e-commerce startup, the couple decided to make extra income by renting their own instruments to friends.
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Over time, other people began to leave their equipment in the collection for rental. The website grew, the model was structured and the informal initiative gave rise to BATS.
Today, the startup has almost 2,500 instruments in its collection, of which around 1,800 are rented. The company operates in four Brazilian capitals – São Paulo, Rio de Janeiro, Curitiba and Belo Horizonte – and allows clients to try different instruments over time.
Subscription plans vary according to the type of equipment, with values between R$50 and R$400 per month, in quarterly, semi-annual or annual contracts. Subscribers also have access to special conditions for online classes from Musixe, the startup’s partner music education platform.
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The entire BATS customer journey takes place online, from choosing the instrument, to signing, delivery and return. The startup maintains its own logistics operation in São Paulo and uses third-party partners in the other cities where it operates.
Taking over logistics was a strategic decision. “The musical instrument cannot be stored in any way. It is pre-assembled and requires care”, says Leonardo. In addition to delivery, the customer can also pick up the instrument at a physical BATS location in each city.
After the period of use, there is the option of returning or purchasing the equipment. In this case, part of the amount paid throughout the subscription is deducted from the final price, which allows for a safer decision after the trial period.
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Next steps
BATS had revenues of R$2.9 million in 2025 and operates at break-even. “The account closes, but we continue reinvesting to grow”, says the founder. For 2026, the projection is to reach R$6 million in revenue.
The company’s next milestone is to expand the collection to 5,000 instruments by December this year and reach 10,000 in 2026, initially in the cities where it already operates. Expansion to new areas, such as Brasília and Porto Alegre, is part of the long-term plan, but is not on the immediate radar.
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