Philippine blockchain-enabled ticketing startup Ticket2Me has announced that it has secured a $350,000 (about P18.5 million) seed funding from Singapore-based Citystate Group.
With the funding, Ticket2Me is set to implement its expansion plan not only in major cities outside Metro Manila and Metro Cebu but also to establish operations in Malaysia and Hong Kong. It established a regional office in Singapore in 2018.
“Citystate’s investment in Ticket2Me is not just a vote of confidence in the excellent execution and product-market fit we’ve demonstrated since going live in May 2018,” said Ticket2Me Founder and CEO Darwin Mariano
“It’s also a continuing challenge for us — that we keep delivering value for both event organizers and ticket buyers in the Philippines and very soon, in Singapore, Malaysia, and Hong Kong. We’re absolutely convinced that event organizers and ticket buyers in the region are both hungry and ready for event ticketing innovation — and Ticket2Me will be there to help them.”
Citystate Group has over 30 years of expertise in business and lifestyle travel, food and beverage, restaurant management, property development and management, education, and general insurance underwriting and brokering.
The group currently consists of 55 subsidiaries and operates in Singapore, Malaysia, Indonesia, Hong Kong, China, India, and with the Ticket2Me investment, will operate in the Philippines, as well.
“Citystate Group recognizes that there is great market potential for a ticketing platform with regional ambitions and the flexibility to serve local communities for all their venue and event ticketing needs,” said Citystate Group director Julie Haw.
Ticket2Me is Southeast Asia’s first blockchain-enabled ticketing platform. The nine-month old platform can be accessed via the website, mobile site, and the iOS and Android apps.
To date, Ticket2Me has already hosted over 1,300 live events, accessed by over 11,000 unique users, and has sold more than 29,000 tickets.
Ticket2Me is the Philippines’ first fully digital ticketing and event technology solution with more than 9,000 payment outlets, making it the most convenient and most accessible ticketing platform in the country.
Ticket2Me is also planning a public sale of blockchain-based tokens that ticket buyers and event organizers can use on the platform for 2019.