Newfund leads €1m round for Shotgun

Newfund provided the majority of the round, according to a source close to the situation, while business angels contributed the remainder.

The VC invested from its second fund, which reached a first close on €100m in May. The fund has a target set at €150m and a hard-cap of €180m. It is a significant step-up from Newfund 1, which closed on €72m in 2009, short of its €80m target. However, Newfund 1 was completed with an additional FPCI pocket of €35m called Booster 1 in 2014. Newfund 2 was launched in July 2016, and should reach a final close by year-end.

Company
Established in 2014, Shotgun is an application that allows organisers of electronic music events to advertise, sell tickets and analyse sales. Users, on the other hand, can trade tickets, listen to featured artists and use the app as a cashless payment solution during events.

Based in Paris, the company has 200 organisers on its platform and intends to push this to 3,000 worldwide by 2020.

People
Shotgun – Tristan le Corre (COO).

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