$5m investment for Canadian secondary ticketer

White-label ticketing company FanXchange has secured US$5 million in funding from two new investors.

San Francisco-based Azure Capital Partners and Toronto’s Plaza Ventures have partnered with a number of existing investors, including Gibraltar & Company, to provide the funding, which will “enhance the current suite of products and technology available to FanXchange’s partners while delivering an even richer user experience to the consumer”, says a statement from the Toronto-based company.

Azure’s head of Canadian investments, Dan Park (pictured), who will join the company’s board of directors, says: “FanXchange is driving incredible growth by delivering immediate value to its partners. We believe [it] has the platform, the leadership and the vision to expand its offering across multiple distribution verticals and geographies. We are thrilled to back Brandon [Koffler, CEO] and his team as they continue on their strong growth trajectory.”

FanXchange offers branded ticketing solutions for loyalty programmes, financial institutions, distribution partners and e-commerce sites in North America. It also operates a secondary ticket marketplace, which has been used to resell over 11 million tickets.