Perhaps because of the barriers to entry around areas like online payments for its competitors, so far, TicketForEvent says that it’s seen very strong demand for its services. ![]() ![]() In addition to this, the company has built up a system for managing interactive seating charts and running affiliate marketing programmes, so that third parties can also link up with its ticketing system. Our team completely understands the market and its particular challenges,” says co-founder Hennadiy Netyaha. However, they have struggled to break into the CIS market, where we have an advantage. “Our primary competitors are the well-known global players– Eventbrite, Cvents, Amiando, Ticketfly etc. Specifically, the payments landscape is very fragmented: TicketForEvent says it aggregates some 90 different payment methods in its service. ![]() The company, which competes against the likes of Cvent, Eventbrite, Amiando and Ticketfly, says that it’s managed to surmount challenges specific to Eastern Europe, which gives it an advantage over these others. Since launching last year, TicketForEvent has sold more than 130,000 tickets for over 1,000 B2B events in the three countries. It looks like TicketForEvent is Abele’s first-ever investment - an indication of sorts of how Eastern Europe continues to develop its own home-grown funding network to match the army of regionally focused startups emerging in the area. The Series A comes round from Abele Ventures, a new VC fund out of Eastern Europe. TicketForEvent, a London-based B2B online ticketing site with most of its operations in Russia, Ukraine and Turkey, has raised $3 million, which it will use to expand its business in the region, to extend to entertainment and sports events, to grow its mobile business and to prepare for a wider European push. Make way for another online ticketing startup, this one coming at the market by way of Eastern Europe.
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