The funding is said to be used for expansion in major cities besides Metro Manila and Metro Cebu. The company also plans to set up operations in Malaysia and Hong Kong after having a regional office in Singapore last year.
Ticket2Me believed that it is Southeast Asia’s first blockchain-enabled ticketing platform and said it has hosted over 1,300 live events and sold more than 29,000 tickets, with more than 9,000 payment outlets in the country.
“We are convinced that event organisers and ticket buyers in the region are both hungry and ready for event ticketing innovation,” said Ticket2Me founder and CEO Darwin Mariano.
Along with the funding news, Ticket2Me also announced plans for a public sale of blockchain-based tokens that are aimed at ticket buyers and event organizers this year.
The investor Citystate Group currently consists of 55 subsidiaries in business and lifestyle travel, food and beverage, restaurant management, property development and management, education, and general insurance underwriting and brokering. It operates in Singapore, Malaysia, Indonesia, Hong Kong, China, and India.
The investment it made in Ticket2Me will put it the firm into the Philippines.
Image Credit: Ticket2Me