Spain’s Ticketbis Lands €3.5 Million Investment, Attributes LatAm Success to Growth

Ticketbis, the Spain-based platform through which users can buy and sell tickets online, has closed its fourth round of funding. The amount: a whopping €3.5 million (roughly US$4.6 million).

Since its 2009 launch, Ticketbis has expanded fast, boasting a strong presence in Europe as well as Latin America, where its platform is available in Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, Uruguay, Paraguay and Peru. It has brought in over €5.5 million in investments to date, this most recent round being its largest yet. Previous investors have contributed again, as have two recognized Spanish business angels.

Internationalization has proven essential in Ticketbis’ success. Just 30% of its revenues come from Spain, meaning 70% come in from abroad. And given that Latin America represents nine of the under 20 countries in which the startup is present, we can assume the region is responsible for a big chunk of Ticketbis’ change.

And looking ahead, the startup shows no signs of slowing down. Ander Michelena, Co-founder and Co-CEO of Ticketbis, remarked:

We’re changing the way people purchase tickets all over the world, something that’s demonstrated in the excellent results we’ve seen in the five Latin American markets in which we just opened. We’ve got a lot to do beyond our borders, and we plan to keep going with expansion.

Ticketbis’ backers were likely attracted by the strong numbers the company’s posted so far this year. Its first semester revenues have already surpassed what it brought in during all of 2012, its 2013 revenues already at €14 million. Ticketbis Co-CEO Jon Uriarte commented:

In just three years, we’ve reached six million users and surpassed 150,000 tickets sold, so we’ll keep working in the same direction. Apart from continuing with our geographic expansion, we also need to establish ourselves as leaders in the markets we’ve recently launched.