Update: Festicket Set to Close Crowdcube Round With Nearly £4.1 Million in Funding

Festicket, a UK-based music festival experience marketplace, is set to close its equity crowdfunding campaign on Crowdcube with nearly £4.1 million in funding. The funding round, which launched last month, sought to raise £4 million. Festicket attracted £3.5 million prior to the campaign’s launch. 

As previously reported, Festicket was founded in 2012 by Zack Sabban and Jonathan Younes. The company provides fans of live music a unique, hassle-free, and money-saving service to discover and book ticket/packages for their next festival trips. It was revealed:

“Working closely with its festival partners and suppliers, Festicket packages festival tickets, accommodation, travel, and add-ons to ensure that festival-goers’ next live music experience is as simple and pleasant as possible.”

Festicket also reported it has quickly grown to be the world’s largest music festival platform with over 1,000+ music festivals on offer, and a growing community of more than 2.5 million festival-goers. The company further explained that it has helped over one million fans book experiences through the platform with over 1,200 Festival partners and 5,000 suppliers, including Wireless and Tomorrowland.

“They have built an online community of 2.5 million members with their online magazine and guide receiving over 65mn page views in 2018 and have grown their revenue by over 480% since 2015. Festicket has been through a planned investment phase with an aim to aggressively capture market share. It is still loss-making at this stage (-€6 million EBITDA 2018).”

Funds from the campaign will be used to continue the growth and development of the Festicket platform. The funding round is scheduled to close on Wednesday. 

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