Pledge Music, the London-based fan-funded online investment platform, has partnered with Welsh rock band Funeral for a Friend on the financing for a new EP.

The band will record a new, limited EP in June and it will be made exclusively available to fans via Pledge Music.

Pledge Music, which launched in 2009, enables the artist to set a target for an amount of financing and then ask for pledges from fans. Online updates on the Funeral for a Friend recording will be available to those who pledge money towards the release.

For £8 ($12), a fan can get the basic package of a download of the EP. There is also the offer of premium personalized bundles, including the download, such as access to a 'pledgers' live show and soundcheck pass for £35 ($53) and entry to a mixing session for £175 ($266).

The financing offer is open until the end of June.

"We are very excited to be working with Pledge as a platform for our new record," said Craig Jennings, from the band's management company Raw Power, in a statement. "In an ever-changing musical landscape this is an ideal way for us to interact with our large and loyal fanbase."

Pledge Music has worked on financing campaigns with acts including Gang of Four, Jack Bruce, Natty, Electric Eel Shock, Madina Lake and Duke Special. It only takes the pledge of money by a fan once an act's target sum has been reached.