Polytone is a startup with two very different business models. On the one hand, it gives young musicians access to high-quality instruments that they would otherwise not be able to afford. On the other hand, it turns these instruments into a form of investment that is independent of the current economic situation. It is also a successful example of targeted support measures in Hamburg.
Outstanding violins are worth millions
In 2012, a violin by Italian violin maker Guarneri del Gesù scored a record price of 16 million US dollars at an auction. In 2011, a Stradivarius fetched almost the same amount. Both instruments date from the first half of the 17th century, confirming a rule of thumb for high-quality violins: the older, the more valuable. Professional classical musicians play almost exclusively on historical instruments. Anne-Sophie Mutter, Germany's most famous violinist, owns two Stradivari worth millions. Orchestra musicians do not have to spend that much money on their instruments, but securing a place in a renowned ensemble often requires an investment in the five-figure range. Many cannot afford to buy one, but the startup Polytone offers them an alternative with its rental option.
The founder of Polytone, Philipp Klotz, is a musician himself, having started playing the cello at the age of five. However, he did not initially turn his passion into a career. He studied politics and economics and, among others, worked for several years in Myanmar, Southeast Asia, for UNESCO and the Phandeeyar Innovation Lab. He was involved in setting up a startup at Talenthouse AG, a digital company that went bankrupt in 2024. By then, Philipp had long since founded his own startup. The idea came to him when he took his cello to a violin maker in his hometown of Lübeck for repair. The luthier promptly offered to buy his instrument for twice the purchase price.
Polytone facilitates access to major orchestras
This was no accident but followed the logic of the market. Top-quality instruments are highly sought after, and demand exceeds supply, especially for string instruments. Handcrafted, one-of-a-kind pieces, small works of art full of distinctive characteristics, are particularly coveted. While conventional everyday objects continuously lose worth due to wear and tear, violins, in particular, increase in value because their sound refines over the years.
As mentioned, anyone who wants to play in a grand orchestra needs a first-class instrument and must procure it themselves. Even newly made masterpieces cost many thousands of euros. This is a major hurdle for anyone who has just left music school and neither has the financial means nor receives external support. Philipp recognised a need and a gap in the market that he wanted to fill with his startup. It was initially called Soundvest and was later renamed Polytone for legal reasons.
Part of Polytone's business model is based on the tried-and-tested principle of renting instead of buying. Interested parties can seek advice and help in finding the ideal instrument, or may have already found it. In either case, the startup purchases it and rents it out on terms that suit the customer's financial circumstances. This means that the monthly instalment can be relatively low at the beginning and raises accordingly if the customer's career progresses positively. The offer also includes comprehensive insurance for the instrument and access to a network that increases the chances of engagements.
From Berlin to Hamburg thanks to targeted funding
Polytone was born in Berlin because Philipp secured a place in the BERLIN STARTUP SCHOOL accelerator programme. The programme started in January 2023 and ran for six months. For follow-up funding, Philipp looked for an institution that focused on the music industry. Hamburg plays a leading role in this field, with Music WorX, part of Hamburg Kreativ Gesellschaft, regularly receiving applications from all over Europe. Being accepted into the programme is therefore a success in itself, and things went particularly well for Polytone. At the final pitch, the startup won both the jury and audience awards. Philipp was assisted at the time by financial expert Diego Maldonado Rosas, who has since returned to his homeland Chile.
Philipp, on the other hand, remained permanently in Hamburg with his family and also relocated the company headquarters here. This meant that Polytone fulfilled an important criterion for funding from IFB Innovationsstarter GmbH and was accepted into the InnoFinTech programme. Its classification in the fintech category is primarily due not to the rental business, but to the other part of its business model. No form of investment that is not linked to a fixed interest rate is completely risk-free; many, often unpredictable factors can lead to significant price fluctuations and, in the worst case, to total loss. However, experience shows that the prices of instruments have risen almost continuously. They therefore constitute an asset class with a high probability of solid returns.
Rising returns and increasing sales
Polytone initially wanted to use this argument to appeal primarily to individuals looking for an alternative to equity funds, real estate or gold. Now, the focus is clearly on institutional investors, including foundations, which can thus combine their capital investment with cultural promotion. Polytone has not set up a fund; each investment is tailored individually and can comprise one or more instruments. The greatest profit opportunities are offered by resale, with renters being potential buyers.
The customers – around 60% of whom are women – come from all over the world, including Italy, Greece, the USA, Colombia and many other countries. String instruments worth between 10,000 and 50,000 euros are the most sought-after, but guitars and flutes have also been procured. The growing success of the business has allowed Philipp to start building a small team. Anja Schulze is a permanent employee primarily responsible for marketing, while Florancia Risopatron is a freelancer who takes care of web design. Further support could be added with the completion of a planned financing round. The Hamburg location has played an important role in Polytone's rise, as the founder confirms:
