Philippines-based blockchain-enabled ticketing startup Ticket2Me has announced raising $350,000 in seed funding from Singapore-based Citystate Group, which operates companies that offer corporate ticketing, among others.
Ticket2Me, launched in May 2018, claims to be Southeast Asia’s first blockchain-enabled ticketing platform. Since its inception, the startup claims to have hosted over 1,300 live events and sold more than 29,000 tickets.
The startup said it will use the fresh funds to implement its expansion plan in major cities outside of Metro Manila and Metro Cebu. It also seeks to establish operations in Malaysia and Hong Kong after establishing a regional office in Singapore last year.
It also announced plans for a public sale of blockchain-based tokens that ticket buyers and event organizers can use on the platform this year. The startup has more than 9,000 payment outlets in the country.
Ticket2Me founder and CEO Darwin Mariano said Citystate Group’s investment is a “continuing challenge” for the company to keep delivering for both event organisers and ticket buyers in the Philippines and, soon, in Singapore, Malaysia, and Hong Kong.
“We are absolutely convinced that event organisers and ticket buyers in the region are both hungry and ready for event ticketing innovation,” Mariano said.
The investor in the seed round, Citystate, has over 30 years’ 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.