Member Article

Manchester online ticketing platform Fatsoma grows with six-figure funding

Manchester-based online ticketing platform, Fatsoma, has secured new funding facilities from NatWest to support its business growth.

NatWest relationship director Mike Malone obtained a six-figure loan to support Fatsoma on its growth ambitions.

Fatsoma has been a NatWest customer for six years.

Founded in 2007 by three University friends Ben Taylor, Chris Pearson and Paul Stacey, Fatsoma has grown to over 30 staff and is rapidly expanding following consecutive high revenue growth year on year in 2013 and 2014, and similar results are expected for 2015.

Co-founder Ben Taylor said: “There’s a massive amount of effort put into hiring people who contribute towards a positive atmosphere and it has resulted in a working environment that’s extremely healthy for everyone involved.

“Whilst we’ve broadened our horizons now our primary customers for a long time were students.

“Students are a complicated market because they don’t respond as well to traditional approaches, instead relying on their friends as their primary source of information and influence.

“We built our product with this in mind, and offer features that allow events organisers to mobilise large teams of reps that act as a distributed sales and promotions team recommending events to their friends and family.”

“This funding from Mike and NatWest allows us to keep ahead of the curve with innovation and overcoming threats from well-funded US companies.

“There’s a huge amount of demand and the market has been validated as a billion-pound-plus opportunity.

“It’s competitive, but our growth has shown no signs of slowing down as we continue to develop our offering to match the broader market.

“Mike and NatWest understand the demands of the market and do what they can to support us.”

NatWest relationship director Mike Malone said: “I was delighted to support Fatsoma as the business embarks on a series of activities to support its business growth aspirations.

“It’s a fantastic business that continues to go from strength to strength, and I wish the business every success for the future.”

Fatsoma operates one of the UK’s fastest-growing event ticketing platforms, which uses social media to help events organisers, venue owners and performers promote their events.

This was posted in Bdaily's Members' News section by Sophia Taha .