Max SteventonTicket Fairy, an event management and ticketing platform, has expanded its financing to provide new funding options for promoters, festivals, and venues in the UK, Europe and the US.
The platform can now offer funding of up to £5m per client in the UK, up to €3m (£2.6m) per client in Spain, Netherlands, Belgium, and Ireland, and up to $3m (£2.5m) per client in the US.
The company has also launched a Revolving Line of Credit facility in the US, offering up to $100,000 (£83,000) per client. The facility operates like a credit card, giving promoters instant cash access based on prior revenue.
The funding is intended to help promoters cover upfront costs, scale festivals, invest in marketing and manage operational expenses.
Ticket Fairy supports features such as cashflow advances, daily payouts, customer payment plans, referral programs, ad tracking, and festival management including reserved seating, accreditation, guest lists and multi-day passes.
The platform has facilitated over $300m (£249m) in ticket sales globally for events including TwitchCon, Mayan Warrior, Papaya Playa Project and Monstercat.
Ticket Fairy 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.”