After surpassing its turnover for 2013 after only half of 2014, Ticketbis has unveiled its latest growth strategy and raised the funds needed to execute.
The business, which has developed a platform for the buying and selling of tickets for a variety of events, posted half year revenues of €29 million and has 300 employees across 14 offices.
From its Spanish base, the technology business first moved into the European and Latin American markets and then the US and Russia. It has now raised €5.2 million so that it can penetrate further into Asia and Oceania.
ACTIVE Venture Partners has led the latest deal through its Amerigo Innvierte Spain Ventures FCR fund alongside other new and existing investors.
Speaking to GrowthBusiness, Ander Michelena, CEO and co-founder of Ticketbis, says, ‘The UK is the biggest ticketing market in Europe and the market where we are growing the fastest in Europe.
‘One of our main objectives for 2015 is to make a push in this market particularly in the concert and festival segments.’
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The last time Ticketbis raised funds was back in July 2013 when $4.5 million was contributed by private investors. Back then it was operating in 15 countries and had facilitated the selling of 150,000 tickets.
Blair MacLaren, partner at ACTIVE Venture Partners, comments, ‘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.’
According to a statement, in 2015 Ticketbis predicts that revenues from new portals in Asia will reach that of Europe and Latin America.