brazilian ticket platform ingresse embraces fintech following series c worth over us$21.8 million
Contxto – As the name implies, Ingresse, meaning “ticket” or “admission” in Portuguese, certainly hopes to make a grand entrance into the fintech world.
This past week, the startup that has historically specialized in ticket sales closed a R$90 million (over US$21.8 million) Series C led by the Endurance investment fund to launch a Credit Rights Investment Fund for event coordinators.
Seeing that Brazil is famous for its festas (parties) and Carnaval, Ingresse’s clients should be better equipped to throw unforgettable functions.
“We want to finance partners and producers so they can make bigger and better events,” said Gabriel Benarrós, co-founder of Ingresse. Alongside Marcelo Bissuh, the pairing from Manaus founded the application in 2013 to improve ticket sales.
Besides tip-toeing into the fintech realm, the startup will also allocate some funds to pursue acquisitions of similar companies. Over the past year, it has already bought-out competitors such as Ingresso Certo, BlackTag, in addition to PixelTicket, according to Baguete.
Last but not least, portions of the capital will go towards developing new products and technology, such as app functions. One of these will reportedly involve pre-sale beverages to avoid long lines of thirsty partygoers. For Benarrós, integration is key.
“Today, the user experience is not integrated,” said the entrepreneur. “The person goes there, buys the ticket, and within the event needs to get a token or a command. Our idea is that the entire consumer experience can occur within the app.”
As of today, the startup employs 120 people in its São Paulo and Rio de Janeiro offices. According to StartSe, it has raised R$40 million prior to this investment round.
Ticket sales in Brazil
On a monthly basis, Ingresse has sold tickets for an average of 900 events, equating to 5 million a year. Considering that the Brazilian event sector could generate as us much US$43.7 million by 2021, Ingresse hopes to secure as many market shares as possible.
The prospects are looking even more bullish on a global scale. After all, the industry could potentially earn up to $ 2.23 trillion in 2021. With this comes an annual growth rate of 4.2 percent.
Not only does this include tickets for cinema, sporting events, concerts, and parties, but also tokens for streaming music, video games, as well as books. What Ingresse proves is that streamlined online ticket sales ensure both efficiency and customer satisfaction.
-JA
