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09 April 2013

Fatsoma secures equity package from The North West Fund for Digital & Creative

Press Release 9th April 2013

Leading online ticketing platform Fatsoma Ltd has secured an equity investment from The North West Fund for Digital & Creative, managed by AXM Venture Capital, alongside a personal investment from its new chairman, LateRooms co-founder Chris Allen.

Manchester-based Fatsoma operates the UK's fastest-growing event ticketing platform, which uses social media to sell tickets for event promoters, venue owners and festival organisers.

Used by 6,000 businesses across the UK, Fatsoma has more than 750,000 members, including 50,000 Fatsoma reps who actively sell tickets for venues and promoters through online channels such as Facebook and Twitter.

Fatsoma has already expanded its operations to Canada, Australia, the US, South Africa and Hong Kong. The investment will help it further accelerate its international expansion and add even more features and functionality to its market-leading platform.

The North West Fund for Digital & Creative is part of The North West Fund and is financed by the European Regional Development Fund and the European Investment Bank.

Fatsoma was founded in 2006 by Ben Taylor, Paul Stacey and Chris Pearson with a small bank loan. The company is growing fast, targeting revenues of £7.5million in 2013 with 20 full-time staff in its Manchester office, making it one of the UK's leading players in the online ticketing industry.

AXM Venture Capital has introduced Chris Allen as a non-executive chairman. Chris was a co-founder of LateRooms, leading the company to a successful sale to travel and tourism firm TUI. He has made a substantial commitment to the business by co-investing alongside The North West Fund for Digital & Creative.

 

 


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