fbpx
x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

news

PlayPass secures €1.9 million in new funding

The RFID and cashless payment technology company plans to use the injection to expand operations into arenas and sports stadiums

By Molly Long on 23 Aug 2018

Pictured L-R: Ron Schuermans (CFO), David de Wever (CEO & cofounder), Dale Hofkens (CTO & PlayPass cofounder)

Pictured L-R: Ron Schuermans (CFO), David de Wever (CEO & cofounder), Dale Hofkens (CTO & cofounder)


image © PlayPass

PlayPass, the RFID company that lists Ticketmaster, Dice, Live Nation and AEG Presents among its client list, has secured €1.9 million in its latest round of capital funding from Amsterdam-based VC Newion Investments.

Speaking about PlayPass’ plans, co-founder and CEO David de Wever comments, “We will continue to develop innovative technology, expanding our own local operational teams across our international territories as well as extending relationships with strong local partners acting as resellers or licensees.

“Secondly, we will look to accelerate our success in other sectors, including indoor arenas and sports clubs.”

“This capital will fuel our growth and advance our progress to expand and become the global market leader in access and contactless payment solutions for the events market”

While the technology is no stranger to the festival world, RFID is still a popular topic on annual lists of festival trends, with a number of events adopting cashless systems this season. Since its launch in 2012, PlayPass has deployed its technology at festivals including Rock Werchter (340,000 visitors) and Lollapalooza Berlin (80,000), working at over 600 events across the world and processing more than €50 million in payments.

With the vision of expanding their offering further into fixed venues, the company has recently partnered with Belgian football club RSC Anderlecht. Season ticket holders at the club can now use their passes to make cashless payments, using PlayPass technology.

“This capital will fuel our growth and advance our progress to expand and become the global market leader in access and contactless payment solutions for the events market,” adds de Wever.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.