Ticket Fairy has made a significant expansion to its global financing capabilities.
The company said it will unlock growth opportunities for event promoters, festivals and venues across the UK, Europe and the United States.
Through 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 United States.
In addition to this pool of funds available for deployment across its lending programmes, 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 enables promoters to cover upfront expenses, scale festivals and invest in marketing, backed by advanced ticketing and event management technology.
In a statement, co-CEOs Ritesh Patel and Jigar Patel said: “The events industry has always been a tough place to survive, but for many it's now harder than ever. With a behavioural 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.”
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
Ritesh Patel and Jigar Patel
Ticket Fairy is an end-to-end ticketing, marketing and event management platform used by promoters worldwide, ranging from boutique venues to large multi-day festivals.
Ticket Fairy combines ticketing, marketing, CRM, analytics and operational tools into one platform.
Key features include funding and cashflow with advances up to £5m based on historic ticket sales, daily payouts via Stripe for instant liquidity, and customer payment plan options to boost conversions, plus a festival management suite, reserved seating, accreditation, guest lists, multi-day passes, analytics and insights.
Ticket Fairy operates with all fees added to the ticket price so organisers receive 100% of the face value. Ticketing fees scale down for higher-priced tickets, set at 5% for premium ticket tiers.
The platform has so far topped $300 million in tickets sold for events, including TwitchCon, Mayan Warrior, Papaya Playa Project, Monstercat and many more.
