Ticket Fairy, the end-to-end ticketing, marketing and event management platform, has expanded its global financing capabilities.
Why it matters:
Via its credit partners, Ticket Fairy can now provide funding to festivals, events and venues of up to £5 million per client in the UK, up to €3 million per client in Spain, Netherlands, Belgium and Ireland, and up to $3 million per client in the US.
This will unlock growth opportunities for promoters, events and venues.
As per Music Week, Ticket Fairy has also launched a new revolving line of credit facility in the US, providing up to $100,000 per client, “with instant cash access based on previous revenue.”
This funding can assist with upfront expenses, scaling festivals, or investment in marketing.
What they said:
Ritesh Patel and Jigar Patel, Ticket Fairy Co-CEOs: “The events industry has always been a tough place to survive, but for many it's now harder than ever. With a behavioral shift to last minute ticket purchases, promoters and venues have tighter working capital and cashflow to pay artist deposits and other upfront expenses. Ticket Fairy Capital opens the door to hundreds of millions in financial support for event creators at a time when banks and traditional lenders close theirs. Paired with an industry-leading platform for increasing revenue and engagement, and streamlining operations, events now have the all-in-one solution that’s simply never existed before.”
