Event ticketing platform Fatsoma has secured the backing of AXM Venture Capital-managed The North West Fund for Digital & Creative.
The undisclosed investment will be used to support its international expansion and add more features to its platform. Fatsoma has existing operations in Canada, Australia, the US, South America and Hong Kong, and will now be targeting other locations.
Manchester-based Fatsoma operates an event ticketing platform which uses social media and designated reps to sell tickets for event promoters, venue owners and festival organisers. The company was founded by Ben Taylor, Paul Stacey and Chris Pearson in 2006 and has since gone on to grow to 20 staff and £7.5 million of revenues.
More on the North West Fund for Digital & Creative:
- First funding deal for Connect Technology Group
- Adaptis Solutions gets help from regional backer
- Camiloo and Autology take Digital & Creative Fund finance
As part of the new funding injection, Fatsoma has secured the services of LateRooms co-founder Chris Allen as chairman, who is also making an investment into the business himself.
The deal is the second for AXM Venture Capital and The North West Fund for Digital & Creative in 2013 following its £150,000 backing Liverpool-based Med ePad.
The North West Fund for Digital & Creative makes investments of between £50,000 and£1.5 million into businesses seeking start-up and early stage development funding as well expansion plans for trading businesses.