Twickets storms funding target with over 500 investors
– Face value ticket reseller hits crowdfunding target weeks before planned campaign end
– Over £890,000 raised by public and industry just over a month after campaign opens
– Tennis World No.1 Andy Murray & Closer Artists (James Bay, George Ezra, James Morrison) invest via Seedrs
– Twickets announces expansion to Australia in 2017
14th December 2016:- Adele’s official face value ticket reseller has exceeded its target of £700,000 in only 32 days on an equity crowdfunding platform.
Over 500 members of the public and live entertainment business have already invested in Twickets. Closer Artists (James Bay, George Ezra, James Morrison) invested soon after the campaign’s launch, and this weekend Andy Murray became the latest high profile name to invest via Seedrs. The funding comes at an important time for the company, as Twickets announces expansion to Australia in 2017, in addition to the already planned US and Spain.
Despite reaching the funding target, the campaign will remain open for a few more weeks. There have been particularly high levels of interest following the news that Twickets will act as both Adele and Crystal Palace’s official ticket reseller, and that it has signed deals to integrate with music promoter Kilimanjaro’s online purchase hub Myticket.co.uk and national ticket agency Gigantic.
Founded in 2015, Twickets’ enables fans who can no longer attend events to resell their tickets at face value, an important alternative to the for-profit secondary marketplaces. The crowdfunding campaign opened on 7 November, following significant reinvestment from the entire founding board and new investment from music industry veterans Marcus Russell and Alec McKinlay (Ignition Management; Noel Gallagher’s High Flying Birds, Catfish and the Bottlemen). Twickets is additionally supported in Spain by a group of established music managers and promoters led by Neo Sala, founder of the country’s largest concert promoter, Doctor Music.
Commenting on the campaign’s success, Richard Davies, Twickets’ founder, said: “Thank you to everyone who has given their support to Twickets, helping us to achieve our target much faster than expected. People evidently believe in stopping fans being ripped off and saving them money that can in turn flow back into the entertainment and sports industries. We look forward to expanding to Australia, Spain and New York next year.”
Twickets is a fan-to-fan ticket resale platform that operates with a face-value policy. Available on web, mobile and social, Twickets boasts over 500,000 users, with ticket resale partners including Adele, Mumford & Sons, One Direction, The 1975, and Catfish and the Bottlemen, as well as some of the UK’s leading festivals. Twickets fully protects its users with a guarantee against fraud and overpricing and serves to steer fans away from the exploitative secondary ticketing platforms.
Seedrs allows all types of investors to invest as little or as much as they like (from £/€ 10 up) in businesses they believe in and share in their success. And it allows ambitious businesses in all sectors to raise capital and build community through an efficient, online process.
Seedrs has funded over 440 deals to date and has had over £180 million invested into campaigns on the platform. All investments made through Seedrs offer voting shares to investors and use professional-grade subscription agreements. This ensures that investors get the same level of protection that angel investors and venture capitalists enjoy.
Seedrs is backed by star fund manager Neil Woodford, Lord Rothschild’s Augmentum Capital, Faber Ventures and over 1,000 of its own customers. Seedrs was the first equity crowdfunding platform to be authorised and regulated by the UK Financial Conduct Authority.