French streaming service Deezer has raised €100m, but won't be signing exclusive albums any time soon. Following its recent failed IPO, the company looks to keep pace with Apple and Spotify in the music streaming market but said it isn't focused on creating exclusive deals with record labels in order to expand its business.

With three million active, paying subscribers, Deezer said it would use the money to finesse its position against its higher-profile competition like Spotify and Apple and improve marketing.

"I don't think there will be a situation where it would be beneficial to have exclusive music on Deezer, exclusive music on Spotify and exclusive music on Apple," Deezer CEO, Hans-Holger Albrecht said.

"I have my doubts that people, in order to listen to music, will go to two or three different music services. That's very different to the video side. Video has been more like this and there you can do something with original content. Consumers tend to go to piracy when things get complicated. As long as we keep things simple then the consumers are happy to pay for legal services."

Deezer's latest investment follows a failed attempt to float on the stock market, as last October, it announced its intention to raise €300m (£231.3m) through an initial public offering (IPO) in Paris, valuing it at up to €1.1bn (£848.1m). Investors didn't agree and within a month the IPO was pulled "due to market conditions".