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Business News Live Business
New ticketing start-up announces £1 million plus in angel funding
By Chris Cooke | Published on Friday 8 May 2015
Talking of clever chip-led ticketing, a new start up in the ticketing space called Una which aims to put tickets to gigs and festivals onto a special card that music fans could use at multiple events, has announced a funding round of £1.1 million from private angel investors, in addition to £250,000 awarded by the government’s Innovate UK money pot.
The people behind the start-up say that their system tackles various issues in the ticketing space, including ticket fraud and over-priced touting. Stating that “what the Oyster Card did for transport, the Una Pass is about to do for ticketing”, the firm says its new system can “abolish prolific ticket crime, unethical touting and extortionate admin fees by completely reinventing the ticket”. While for the live industry, Una offers “ticketing, access control, cashless payments and real-time onsite analytics”.
Like that other ticketing start-up Dice, the Una Pass model also hopes to put an end to unpopular booking fees in the live space, in that users would pay £5.99 for their Una card (which would have a three year lifespan) and then get to book tickets for Una-affiliated events without paying any additional fees to the company. And early adopters can currently get a free card via the firm’s website.
Peter Thompson, former Deputy Chairman of Wembley Stadium, is the lead investor in the company, while its founder, Amar Chauhan, told reporters this week: “Do not dismiss us as just another start-up ticket agency. We are here to shake up the establishment and give power back to fans. We have built a solid end-to-end solution to combat the widespread problems in the ticketing industry which can take on the leading agencies across all live event sectors”.
