Spanish-U.S. social music recommendation service MyStrands today said it has raised an additional $24 million from Spanish bank and financial service group BBVA in the second half of their B round of funding. This sum comes on top of the $25 million it raised in June.

MyStrands VP of communications Gabriel Aldamiz-Echevarria says, "this will allow us to keep building technologies that will help people discover different products and services."

MyStrands was founded four years ago in Barcelona, Spain, but is now based in Corvallis, Oregon. It registered $12 million in sales in 2006.

BBVA has more than $782 million in total assets, 42 million customers in 40 countries and a market capitalisation of some $95 billion.

Aldamiz-Echevaria says BBVA was chosen "because they endorse our vision and realize that understanding people's preferences will allow us to deliver relevant content to people."

BBVA has a leadership position in Spain, Mexico and Latin America, and has started a growth and diversification strategy in Asia and the United States, where it recently bought Compass for some $9.6 billion.

MyStrands employs 90 people and has U.S. offices in San Francisco, New York, and Washington DC, Spanish offices in Barcelona, Madrid, Valencia and Zaragoza, as well as Helsinki, Finland and Sao Paulo, Brazil.