The investment will be used to strengthen its position in the 31 markets in which it operates
Ticketbis.net, the online platform to buy and sell tickets has announced it has closed its latest round of funding totalling €5.2million. This represents the largest investment round closed by the company which has now raised more than €10million in the last four years.
Existing and new investors participated in this current round which was lead by ACTIVE Venture Partners, a European venture capital company with a presence in Spain, Germany and Scandinavia. It has invested in Ticketbis through its fund – Amerigo Innvierte Spain Ventures FCR.
“Ticketbis continues to generate impressive results that demonstrate the team’s great ability to execute its plans and achieve its goals. The company has successfully opened new international markets in Europe, Latin America and Asia where ACTIVE can help in its expansion. Its business model has the capacity for significant traction and responds to the demand from markets with a great deal of potential and limited competition,” said Blair MacLaren, a partner at ACTIVE. “ACTIVE is committed to projects with strong growth potential and established teams with experience and proven capabilities,” continued MacLaren.
“This investment will be dedicated to consolidate our leadership in the markets in which we are already present and accelerate growth in recently opened regions, such as Asia,” said Jon Uriarte, CEO & Co-Founder, Ticketbis. In 2015 the company expects revenues from new portals in Asia to be equal to that of Europe and Latin America.
“We are very pleased with the entry of ACTIVE as one of our shareholders for their expertise in the markets in which we operate and for their proven ability to support companies at this stage of development. Their participation, along with that of previous investors, is a great sign of the confidence in our team and the great results we are achieving,” Uriarte continued.
The capital increase comes at a particularly good time for the company, which closed the first half of 2014 with a turnover of €29 million, which is more than that achieved in the whole of 2013. Only a few weeks after announcing its arrival in Asia, Ticketbis has confirmed that 50% of the sales recorded in the first quarter of the year came from Europe while nearly 40% were from Latin America and 10% were from new markets.
The online platform for the purchase and sale of tickets for all sorts of entertainment events was established in 2009, by Ander Michelena and Jon Uriarte. After launching in Spain, the company started its internationalisation first in Europe and Latin America, before moving into the USA and Russia and then developing into Asia and Oceania in 2014. The company currently has 300 employees, 31 portals and 14 offices.