Member Article

London startup Kweekweek raises $3.35 million to support US expansion

London-based event ticketing startup KweekWeek has raised a $3.25 million seed round as it plans its expansion to New York and new European cities, according to TechCityNews.

Kweekweek allows hosts to advertise and manage their events and also helps attendees find personalised events for them based on location, history, and personal preferences.

Founded in 2012 by former banking professional Mehdi Nayebi and civil engineering graduate Tina Mashaalahi, over 150k tickets have been sold through the platform.

The investment comes from angel investors from the entertainment, tech and banking industries.

Event organisers on KweekWeek can create pages for a wide range of event types, including networking, nightlife, sport and entertainment.

The startup recently launched a new app on both iOS and Android.

With the investment, the founders plan to expand to New York and other European cities by the end of the year.

Despite the substantial investment in KweekWeek, Nayebi says young European startups still struggle to raise funds, particularly compared to their American counterparts.

Nayebi said: “For all of the buzz around the London technology scene, there is still a lack of early stage institutional investment here, but these schemes [EIS] can be of great benefit to startups like ours.”

This was posted in Bdaily's Members' News section by Ellen Forster .