Twickets launches funding campaign, unveils plans for European expansion

Twickets launches funding campaign, unveils plans for European expansion

Face value ticket reseller Twickets has launched a new crowdfunding campaign with news of investment from Ignition Management’s Marcus Russell and Alex McKinlay and Spanish promoter Doctor Music.

The support from industry veterans Russell and McKinlay comes as part of a new funding round that includes reinvestment from the company’s founding board members. This includes Ian McAndrew (founder & CEO, Wildlife Entertainment), Harry Magee and Richard Griffiths (co-founders, Modest! Management), Chris Wright CBE (co-founder Chrysalis Records, Heart FM, LBC), Tony Wadsworth CBE (former chairman of EMI and the BPI) and Steve Parish (chairman & co-owner, Crystal Palace FC).

The link with Doctor Music (via founder Neo Sala) comes as Twickets reveals plans to launch in Spain by the end of the year, focusing initially on music with a view to future expansion into theatre and sport. The company has been increasing its European presence as it looks towards a full launch across the continent.

For the first time, the public can now invest in Twickets – which was founded in 2015 by Richard Davies and was nominated for Best Ticket Company at last year’s Music Week Awards – via a campaign on crowdfunding platform Seedrs. The company aims to raise £700,000. 

The firm has also announced a partnership with Premier League football team Crystal Palace that will see it become the club’s official resale partner. 

Commenting on the funding round, Davies said: “Our second round of investment is an exciting opportunity to further expand the business internationally, and welcoming top industry players like Neo Sala, Marcus Russell and Alec McKinley into the Twickets family is a great development. As well as this, investing through Seedrs is an opportunity for fans to be a part of our continued growth. We are looking forward to launching in Spain and working with our new partners at Doctor Music to offer Spanish music fans an alternative, ethical method of purchasing concert tickets.”

Guaranteeing its customers against fraud and overpricing,Twickets has over 500,000 users and its resale partners include Adele, Mumford & Sons, The 1975, One Direction and Catfish And The Bottlemen.

VIDEOS
Music Week Radar, 6th October 2016

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