Vibe Tickets, a UK-based ticket exchange platform, has reached its crowdfunding target of selling 10 per cent of its equity.
Earlier this month, Vibe launched the crowdfunding pitch via Crowdcube with a view to securing £600,000 (€715,000/$800,000) in funding.
The platform, which allows users to sell unwanted tickets or purchase them from other fans at face value, has raised £607,410 so far through 302 investors, with the 10.11-per-cent stake valuing the company at £5.4 million.
Vibe, which was founded three years ago, was praised by tycoon Sir Richard Branson at this year’s Virgin Media Business #VOOM event, where it finished runner-up in the ‘Start Up’ category, securing a prize of £20,000.
Vibe plans to use the new investment to release a new version of its Android application and also upgrade its website.
The company currently connects more than 30,000 customers across eight countries.
Crowdcube has facilitated the investment of £187m in various companies through its 302,000 registered investors.
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