Member Article

Online booking platform Festicket closes $6.3m Series B funding

London startup Festicket, which specialises in music festival experiences, has closed its $6.3m (approx. £4.7m) Series B funding round.

Drawing funding from media and internet merchant bank Lepe Partners, the round also saw participation from venture capital firms PROfounders, Playfair Capital and Wellington Partners.

Founded in 2012 by entrepreneurs Jonathan Younes and Zack Sabban, Festicket aims to make booking festival tickets and the related accommodation and travel arrangements as easy as booking a package holiday.

The site has enjoyed 425% year-on-year growth and now boasts over 500 music festivals in 40 different countries on its platform and is linked to a network of over 1,000 accommodation and travel package suppliers.

Zack Sabban, Chief Executive Officer, enthused about the potential of the site and believes there is the potential for Festicket to become a ‘global internet business’ that can ‘change the face of the live music industry’.

He said: “Well over 60 million domestic and international travelers are now willing to experience festivals as holidays. We intend to provide them with the most comprehensive and experiential platform to search, discover and book music trips.”

Festicket intends to use the new investment, which follows a $2.7m (approx. £2.02m) Series A funding round in September 2014, to grow its brand and music fan community globally through its operational and marketing resources.

Jonnie Goodwin, founder of Lepe Partners and co-founder of Founders Forum said: “We are proud to be working with and investing in Festicket. The market opportunity for the business is huge and growing - in Europe alone there are now more than 3,000 festivals for music fans of all ages. We are looking forward to actively supporting the team with their growth plans.”

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