"What sets companies like Fatsoma apart is their ability to clearly articulate their plans and having the courage to follow through with their well thought-out ideas"
 
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Fatsoma accelerates international sales after receiving funding

Fund: Digital Creative

Innovative online ticketing platform Fatsoma, is accelerating its international sales after having received investment from The North West Fund for Digital & Creative...

Manchester-based Fatsoma is used by 8,000 businesses across the UK and has more than a million members, including 50,000 Fatsoma reps who actively sell tickets for venues and promoters through social media channels such as Facebook and Twitter.

Earlier this year the company secured an equity investment from The North West Fund for Digital & Creative, alongside a personal investment from its new chairman, LateRooms co-founder Chris Allen. Chris was a co-founder of LateRooms, leading the company to a successful sale to travel and tourism firm TUI.

Fatsoma plans to use the investment to add more features and functionality to its market-leading platform whilst also focusing on growing its international client base. Currently, with 90 per cent of its customers based in the UK, Fatsoma is keen to build on business which has already come in from Europe, Canada, Australia, the US, South Africa and Hong Kong.

Fatsoma, which was founded in 2006 by University friends, Ben Taylor, Paul Stacey and Chris Pearson is centred around innovation. Not only is Fatsoma often first to market with product developments, the team also prides itself on its innovative management structure, Paul Stacey said, "We shunned traditional management structures in favour of a more open and adaptable approach. This allows us to be more flexible in our decision making, so rather than someone having the final say simply because of their title, teams can reorganise to tackle problems based on experience and ability." 

The company is the UK's fastest growing event ticketing platform, targeting revenues of £7.5million in 2013. Having also doubled its staff numbers to 20 full-time staff the company is still keen to grow further. To date the business has focused on music and festivals, however the team are looking at how their innovative platform can be used within other industries such as travel and sports. Paul said, "Our platform is simple to use and provides businesses with immediate exposure to hundreds of thousands of people. What we're moving towards now is giving a broader range of promoters the tools they need to reach and connect with an even bigger, global audience." 

David Smith, investment director at The North West Fund for Digital & Creative, is impressed with the company's ambitious plans for growth, "It has been a pleasure working with the team at Fatsoma. The business has already achieved incredible growth and continues to build on its reputation as a leading e-ticket provider.

"Innovation is at the heart of any digital and creative business, but what sets companies like Fatsoma apart is their ability to clearly articulate their plans and having the courage to follow through with their well thought-out ideas."  

For more information about how you may be able to access funding for your digital or creative business please visit /funds/digital-creative



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