Showpass, a Calgary-based event and ticketing platform, has secured undisclosed mezzanine financing from the Growth and Transition Capital division of BDC Capital. Showpass serves more than 2,000 mid-size event organizers across Canada, including music, film and beer festivals, concerts and conferences, helping them improve mobile ticketing sales, management and tracking. The funds raised will help the company continue expanding its reach in the domestic market, in part by attracting more technical and sales talent to its team. Showpass was founded in 2014 by CEO Lucas McCarthy.
Showpass Secures BDC Investment
Canada’s event and ticketing innovator advances industry with technology that improves mobile ticketing sales, management and tracking
CALGARY, Alberta, Canada—March 8, 2018- Showpass, Canada’s fastest-growing event and ticketing platform, and one of the country’s leading technology startups, announced today that it has secured mezzanine debt financing investment from BDC Capital, the investment arm of BDC. Terms of the investment were not disclosed.
Showpass serves more than 2,000 mid-size (1,000-15,000 attendees) event organizers throughout Canada, including well-known music, film and beer festivals, concerts and conferences. The company’s full product feature set is described in detail on the company’s website. Highlights include:
A fully integrated shopping experience, enabling organizers to sell tickets/products directly on their brands’ websites, driving an average 17 percent extra revenue over previous providers;
A powerful seller network turning retailers, sponsors, and global platforms into mobile box offices;
Social media ticket sales without redirecting customers outside the app;
A powerful mobile point-of-sale plugin for tickets, products, or on-site purchases.
“This investment by BDC Capital will increase the growth capital available to Showpass as we continue to expand our mobile-focused event ticketing platform’s reach across Canada,” said Lucas McCarthy, CEO of Showpass. “We are excited to form a strong relationship with one of Canada’s leading players in the high-growth company space which amplifies our ability to give our customers more tools to truly increase their top and bottom lines, while also making check-in at events dead-simple for attendees.”
BDC Capital focuses its investments on the most innovative companies in Canada. Showpass has won several Calgary-based business awards and was honored to be chosen as a member of the Lazaridis Institute’s current Scale-Up cohort.
“With more than 2,000 clients and a rapid growth curve, the market is taking notice of the innovations offered by Showpass,” said Vern Malcolm, Director, Growth & Transition Capital for Southern Alberta at BDC Capital. “BDC Capital’s financing will allow the Company to continue to attract top technical and sales talent to its team and confidently move forward with its expansion plans.”
Showpass is the leading technology innovator in the event ticketing industry, increasing event managers’ ticket sales and unleashing their power to sell anytime, anywhere. Showpass is transforming the event experience with proprietary technology that expands users’ ability to sell more widely and activate powerful seller networks, while streamlining the event ticketing experience for both ticket sellers and buyers. Showpass serves an ever expanding variety of organizers including festivals, venues, university and trade show clients. Showpass is headquartered in Calgary, Alberta, Canada. Showpass is well-funded, including investment by BDC Capital. For more information, visit www.showpass.com.
About BDC Capital
With more than $2 billion under management, BDC Capital is the investment arm of BDC, serving as a strategic partner to Canada’s most innovative and high potential firms. It offers a range of equity, venture capital and flexible growth and transition capital solutions to help Canadian entrepreneurs scale their businesses into global champions. To find out more, visit bdc.ca/capital.
Kara Udziela email@example.com/949.282.3506
Photo courtesy of Showpass