Beringea leads $10.5m round for Festicket

Lepe Partners, Jaguar Land Rover's venture capital arm InMotion Ventures, Channel 4's Commercial Growth Fund and U-Start also took part in the round, alongside former Spinnin' Records CEO Eelko Van Kooten.

Festicket is currently undertaking an international expansion strategy, with a particular focus on the North American and Asian markets.

As part of the deal, Beringea investment director Eyal Malinger will take a seat on the Festicket board of directors. The business is also in the process of recruiting a new chief operating officer.

Previous funding
Prior to the latest round, Festicket had raised $13.7m across various series of funding.

Windcrest Partners, Playfair Capital and Kima Ventures took part in a $680,000 funding round for the company in 2013. The following year, ProFounders Capital and Wellington Partners led a $2.7m round.

The business then raised a $6.3m series-B round led by Lepe Partners in 2016 and an undisclosed series-C funding round in 2017.

Company
Founded in 2010, London-headquartered Festicket is an online platform that allows customers to buy package deals for music festivals, including event tickets, accommodation and transport.

People
Beringea – Eyal Malinger (investment director).
InMotion Ventures – Sebastian Peck (managing director).
Festicket – Zack Sabban (CEO).

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