Vibe Group secures £2m from Candy Ventures to back its mobile payments platform and ticketing marketplace.
Nick Candy has invested more than £2m through Candy Ventures for a 23 percent stake in the holding company.
Vibe Group operates a ticket resale firm and community oriented ticketing marketplace. The Lancashire based company provides mobile payment platforms and secondary ticketing services.
Vibe Group has secured more than £2m in funding from British property developer Nick Candy via his private fund, Candy Ventures. The capital acquisition gives Candy a 23 percent stake in the holding company, whilst founder Luke Massie retains majority shareholding status.
The investment will be directed towards supporting the mobile payments platform Vibe Bay and the Vibe Tickets marketplace. Existing backers Scott Fletcher MBE and Vela Technologies also maintain their support in the business following the transaction.
The injection of capital follows the company buyout out of administration by Massie in 2018, after which equity was gifted back to original investors. The latest round marks a notable phase of commercial development for the ticket resale firm.
From the founder
"This is a significant milestone for the Vibe Group. To have the backing [of] Nick Candy and his experienced team at Candy Ventures, as well as the continued support from Scott and Vela, is a huge endorsement for the brand."
Luke Massie
Founder and CEO at Vibe Group
Investor perspective
"I recognise a lot of entrepreneurial qualities in Luke that I know are crucial for a tech start-up to achieve great things"
Nick Candy
Founder, Candy Ventures
Use of funds
- 01Continue product development
Investors
About the company
Vibe Group
Vibe Group operates a ticket resale firm and mobile payments platform.