The company doubles its turnover compared to the same quarter of the previous year. ACTIVE Venture Partners, Fabrice Grinda and José Marín among the key partners.
Spanish online ticketing company Ticketbis has just raised €3 million for its first round of funding of 2015. The investment was made in the form of a convertible loan which when added to the previous five rounds of funding raised across five years of business operations reaches a total of 14 million for.
The round was led by venture capital firm ACTIVE Venture Partners who are present in Spain, Germany and Scandinavia, super angel Fabrice Grinda and his partner José Marín of IG Expansion Business Development.
Marín and Grinda have led the group using crowd-funding platform AngelList which is dedicated exclusively to promoting investments in tech startups.
Jon Uriarte, CEO and Co-funder of Ticketbis said recently that “This latest round will be split between three main objectives: improving the quality of service, bolstering presence in new markets in Asia, and mobile innovation”.
The company also announces that the turnover of the first quarter of 2015 is already double the previous year, going beyond the sales prevision for 2015.
Ticketbis has been benefiting from rapid growth since 2010, the year it began its operations in Spain. It employs over 350 employees and operates in more than 30 countries worldwide.
Increased investments in Spanish tech startups
The funding received by Ticketbis is above the national average in Spain, however, the general trend of investment in Spanish start-ups has been rising considerably. This in a country that in 2008 was hit hard by the credit crisis and has only just started showing signs of recovery. According to Startupxplore, in the last quarter of 2014, Spanish tech startups managed to raise a total of 77 million euros in 42 rounds, averaging 1.83 million per round. This is four times of what was collected in the same period of 2013.
This same trend could be seen throughout the entire year across Europe with a dramatic burst of financing in tech companies. As is apparent from the 2014 European Tech Report of CBInsights, investment activity in European venture capital backed tech companies grew by 78% over the previous year, reaching a total of $ 5.7 billion.