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The new investment from Lepe Partners and others brings London-based Festicket's total funding to $10 million
By IQ on 01 Jul 2016
Festicket, a London-based website selling music festival packages, has raised an additional US$6.3 million in funding, bringing its total investment to $10m.
Yeslab Ltd, trading as Festicket, packages tickets with travel, accommodation and other add-ons to create “complete festival trips that can be booked in one click”. Its portfolio includes over 500 festivals in 40 countries.
The latest round of funding comes from merchant bank Lepe Partners and existing investors Wellington Partners, PROfounders and Playfair Capital, all venture-capital firms. The new capital will, says Festicket, be spent on operational and marketing resources to grow its user and supplier base and increase awareness of the brand globally.
Lepe Partners founder Jonnie Goodwin says: “We are proud to be working with and investing in Festicket. The market opportunity for the business is huge and growing – in Europe alone there are now more than 3,000 festivals for music fans of all ages. We are looking forward to actively supporting the team with their growth plans.”
Festicket has sold over 250,000 festival experiences since its founding in 2012, and has seen over 425% average growth over the past two years.
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