Industry News

Ticketfrog closes on funding round completion

Swiss ticketing platform Ticketfrog says it expects to complete a second round of funding in the next two months, and is already making plans for a third investment phase towards the end of the year.

Ticketfrog, which was founded last summer, is financed exclusively by vouchers on tickets, and does not impose any fees, credit card charges or fixed costs on event organisers or ticket vendors.

It concluded a first funding round two months after its foundation, and its growth trajectory received a boost in January when it acquired Swiss self-service ticketing operator Instahive.

Now the company has won the prestigious Master of Swiss Web 2017 award, and said plans were in place for further expansion through an ambitious investment strategy.

“[The initial investors] are private investors who believe in us founders and are convinced of the idea of ​​Ticketfrog and the disruptive business model,” Reto Baumgartner, co-owner of Ticketfrog, told the Netzwoche tech news website.

“At the moment, we are on the second round of financing and expect that we will be able to complete this in one or two months. A third round of financing is planned for the end of the year.

“A big aid to our growth was the cooperation with the Swiss Gymnastics Association, which made us known to its members. Word-of-mouth had a surprisingly early effect, and there were more and more organisers with whom we were previously not in contact. This is due to the fact that we have an extremely high proportion of satisfied organisers, as everyone is able to record his events independently and very quickly. It makes it really fun to make ticket sales with Ticketfrog.”

Ticketfrog is currently searching for further sales and software executives, and Baumgartner admitted that he wants his company to match the disruptive influence of meeting scheduler, Doodle.

“We are only at the beginning and still have a lot in mind,” he told Netzwoche. “We want to be the Doodle of the ticketing market.

“We will offer a mobile ticket soon, so the ticket buyers will no longer have to print out the ticket or have to display the PDF version on their mobile phone.

“In addition, we are in close dialogue with organisers, both before and after an event, in order to find out as much as possible about their needs and to include them in the further development of our platform.”