B2B marketplace for ticketed events and experiences in the UK, Tickitto was created to solve the complex issues in the supply of ticketing. Now, the company announced that it has closed $4.5 million (nearly £3.25 million) in an oversubscribed seed funding round.
The investment round was led by Berlin-based Vorwerk Ventures alongside participation from TriplePoint. A number of its existing investors, including well-known early-stage investor SeedCamp also followed in this round.
The round also includes notable strategic Angel Investors: Martin Gould, who was head of product for Spotify’s Content Platform, ComplyAdvantage CEO Charles Delingpole, Universal Studio’s former VP of Business Development Jonny Moran, Revolut Business’ former CEO Richard Davis and GoCardless Founder Matt Robinson.
Tickitto will use the funds to hire heavyweight partnership development teams and to invest in data infrastructure, which will help its clients provide a level of personalised service previously unavailable in the ticketing industry.
Commenting on the closure of the funding round and the go-live of the partnership, Tickitto CEO Dana Lattouf comments: ‘I am proud and inspired by the way we’ve risen to the challenge given the impact of COVID and this funding round is perfectly timed with the great return of events and experiences. We’re grateful to have the continued investment of our current investors and excited to welcome our new investors on this journey of scale.’
Sascha Günther, Principal of Vorwerk Ventures, added: ‘We’re very excited to be part of the journey. Their business fits perfectly into our portfolio of disruptive innovators. We have been impressed with the progress they have made both in terms of technological innovation and the relationships they have developed with major players.’
Commenting on reaching an agreement with Tickitto AI, Servantrip CEO Javier Arevalo said: ‘It’s been part of our strategy for a while to add ticketing and events services to our valued clients. Tickitto has the perfect solution for us, offering a scalable API that unlocks access to unique global events and allows us to augment our existing portfolio.’ Servantrip serves 7.400 travel companies globally and adopts Tickitto’s technology to expand the services it is able to provide customers globally.
Comprehensive B2B ticketing marketplace
Tickitto was founded in 2017 by Dana Lattouf, one of two people to receive the University of Bath’s Innovation Grant. The company is intended to solve the complex supply problems by creating Open Ticketing design principles, similar to those that have revolutionised consumer banking.
The company has designed a way for platforms to incorporate the supply of ticketed events to their customers at 1 per cent of the effort it would usually take. It assures that clients will be able to buy tickets to events from brands they trust.
Also, it confirms its official launch as the world’s most comprehensive B2B marketplace for tickets to sports, music, theatre, and cultural experiences via its innovative REST API, supply distributed via global heavyweight Amadeus, and European leading travel operators Él Viajas Corte Ingles and Carrefour Voyages.