Spotify is on the verge of inking a deal with a US venture capital investor willing to pump $200m (£125m) into the streaming platform, according to Sky News.

The new funding round apparently comes from Silicon Valley tech investor Technology Crossover Ventures (TCV), say Sky's sources. California-based TCV's current investments include Facebook, GroupOn and Go Daddy.

It reports that it is unclear exactly how big the stake being acquired by TCV in Spotify would be or at what price the ...