PlayPass secures €1.9 million in new funding

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.

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PlayPass named most promising business in Flanders

RFID technology firm PlayPass has been named ‘most promising business of the year’ by the Flemish government in recognition of its rapid international growth. The award was presented by Flanders’ minister of work, economy, innovation and sport, Philippe Muyters, to David De Wever, CEO and co-founder of PlayPass.

This achievement follows PlayPass’s biggest year to date, with its RFID solutions for cashless payments, access control, accreditation and brand activation delivered at more than 100 events, including music festivals, concerts, sports and other live events, in 16 countries across five continents.

Founded in Antwerp in 2012, the company employs more than 30 staff internationally, with clients including Lollapalooza (Berlin and Santiago), Live Nation Belgium, Rock Werchter, Lowlands, Bilbao BBK, Graspop Metal Meeting and Melt Festival.

“This award can open many doors for our business”

“This award can open many doors for our business,” says De Wever. “It will boost our plans to double our headcount and open new offices around the world in 2018 while significantly expanding our current operations in the UK, Spain and Germany.

“The potential applications of our technology are endless, and we are experiencing exponential growth in demand for our services in every part of the world.”

Geert Noels, chairman of the jury that selected PlayPass as this year’s winner, adds: “This young company is a prime ambassador for entrepreneurship in Flanders, and is a source of inspiration for others having developed a new digital business model in the local region and successfully scaled it on a global basis.”

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