Tech5 nominee Tiqets secures a 17 million US dollars investment for major global expansion. The investment is made by HPE Growth Capital. Tiqets says it’s making culture and entertainment more accessible by providing admission tickets for museums on consumers smartphones.
Tiqets funding rounds
The biggest growing company in Holland previously received A-funding investment of $5.45 million from Captal Mills, Investion and non-institutional investors and its total funding now stands at more than 22 million dollar. The B-round by HPE Growth Capital should help Tiqets scale up globally and expand its services throughout the world. At the moment there are 75-employees and teams working in New York, Barcelona, Rome, Vienna and Paris. The three year old travel tech startup has a leading position when it comes to mobile ticketing.
Growth options and threats
With a title as ‘fastest growing company in the Netherlands’ (2015) and investment capital numbers like these, it looks all rainbows and sunshine for the ticket provider. Especially as museums and tour operators don’t need to be tech savvy, Tiqets provides the technology partners can use to send out mobile tickets to consumers smartphones. But scaling up still can be an issue, we’ve seen it happen before with Gidsy (acquired by GetYourGuide and Tripbod (acquired by TripAdvisor) for example. Therefore Tiqets teams up with other operators (a trial with Booking for example) We’ll see in the next year if Tiqets can stand out by itself or acquiring is still necessary to provide the smart service all over the world.
Fastest growing company in the Netherlands again?
At The Next Web Conference, starting tomorrow, the winner of the Tech5 will be announced. Tiqets doesn’t share its revenue numbers, but we sure do understand the investors if they happen to win the price again.
“Our unique technology is a direct response to consumer demand for last-minute tickets to museums or attractions both at home and abroad. Our customers love the convenience of an instant delivery without needing to print anything. Our investors have noticed that too; we are very pleased by the investment led by HPE Growth Capital, which will give Tiqets the resources it needs to continue to scale, so we can connect new cities, expand our partner network and strengthen our leading position in the market,” is Tiqets CEO Luuc Elzinga’s respond.
Jonne de Leeuw, principal at HPE: “We are excited to join Tiqets as shareholder, one of the fastest growing scale-ups in Western Europe. We are impressed with the company’s focussed business model, the team’s speed of execution and its drive for a superior customer experience in combination with the highest quality offering.”