Brazilian ticketing firm Ingresse has secured R$90m ($21.8m/£16.6m/€19.6m) in a Series C funding round led by Endurance to launch an investment fund for event coordinators.
With the influx of cash, the company said it wants to invest in its clients to help produce larger scale and better-equipped functions across Brazil.
Gabriel Benarrós, co-founder of Ingresse, said, according to Brazil Journal: “We want to finance partners and producers so they can make bigger and better events.”
Ingresse shifts more than five million tickets a year for an average of 900 events per month from cinema, sporting events, concerts and parties.
The funding will also be used to pursue acquisitions of similar companies, as it has over the past year with the buyouts of its competitors such as Ingresso Certo, BlackTag, and PixelTicket.
Ingresse will also use the capital to develop new products and technology, such as app functions, with one such development involving pre-sale beverages to reduce queues at events and venues.
He added: “Today, the user experience is not integrated. The person goes there, buys the ticket, and within the event needs to get a token or a command. Our idea is that the entire consumer experience can occur within the app.”
Prior to this round of investment, the company has raised R$40m, according to StartSe.