Art Money pulls back in economic squeeze

Art Money, the interest-free financing platform for artwork purchases, has made the difficult decision to pause operations due to capital woes of its own.
Photo: Markus Spiske, Unsplash. A brightly-lit space with artwork displays on walls and visitors walking about.

On 7 June, Art Money founder Paul Becker released a statement announcing the business will ‘pause new business operations whilst we recapitalise’ – a decision that Becker did not make lightly.

Art Money is an Australian art fintech business that offered interest-free, 10-month payment plans for artwork purchases between $500 to $1 million. Its goal has been to make art collecting accessible, affordable and sustainable.

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Celina Lei is an arts writer and editor at ArtsHub. She acquired her M.A in Art, Law and Business in New York with a B.A. in Art History and Philosophy from the University of Melbourne. She has previously worked across global art hubs in Beijing, Hong Kong and New York in both the commercial art sector and art criticism. She took part in drafting NAVA’s revised Code of Practice - Art Fairs and was the project manager of ArtsHub’s diverse writers initiative, Amplify Collective. Celina is based in Naarm/Melbourne and was most recently engaged in consultation for the Emerging Writers’ Festival and ArtsGen. Instagram @lleizy_