TicketCo, a Norwegian event payments platform, has completed a £4.6m stock expansion, in an offering that was oversubscribed.

The fund-raise will allow the company to invest in key areas to continue its growth in the UK and across Europe. It is hoped that the investment will support ‘continued innovation, increased sales and operational teams and establish TicketCo as a licenced European Payment Institution’.

Co-founder of TicketCo, Carl-Erik Michalesen Moberg, said: “This private investment will enable TicketCo to continue to invest in the innovation that has made our product so appealing and further support continued strategic growth across Europe. This is another big step forward for TicketCo, we believe we’ve designed the perfect sales tool for the events industry and this funding will enable us to take it to the next level.”

TicketCo was founded in Norway in 2013 and has offices in the UK, Poland and Sweden. Its technology enables organisers to promote offers on food, drink and merchandise in advance of events.

TicketCo recently they won a five-year contract with Norsk Toppfotball to supply the top two Norwegian football leagues with ticketing and payment solutions. The contracted is estimated to be worth £90m. In the UK, TicketCo has partnered with football clubs including Kilmarnock, Wycombe Wanderers and Solihull Moors. In the festival, events and music space it has partnered with Coalition Agency, Tobacco Dock, the International Tattoo Convention, and Junkyard Golf Club.