Festicket set to complete new funding campaign

Festival experience marketplace Festicket is set to raise £4m through a new equity crowdfunding campaign via the Crowdcube investment platform.

With 19 days remaining until the funding round closes at the beginning of April, Festicket had attracted £3.77m through 872 investors. The equity on offer is 9.32%, with the company valued at nearly £39m.

In February, Festicket, which launched in 2012, announced that it had raised £3.5m from Edge Investments to support the firm’s international expansion and user experience development. Transatlantic venture capital firm Beringea and UK commercial broadcaster Channel4 are among the other investors to have injected some £16.8m into the company so far.

The festival ticketing and packages company’s headquarters are in London, while other offices are located in Amsterdam, Berlin, Porto, San Francisco, with four additional offices in the EU and US.

It is hoped that the recent funding campaigns will help the company to expand further into North American and Asia. Festicket is also looking to build an exclusive membership tier with added benefits in 2019.

Festicket closed 2018 with a series D funding round that raised $10.5m, led by Beringea.

Tickets to more than 1,200 festivals are available via the platform, which has recorded more than one million customers from 100 countries.

Festicket has also experienced a near five-fold increase in revenue since 2015.

Image: Festicket