Lancashire County Council invests in Lancaster-based Vibe Tickets

Lancashire County Council has lent its support to Lancaster-based ticket platform Vibe Tickets.

Founded by 23-year-old entrepreneur Luke Massie from Preston, Vibe is aiming to raise £600k via crowdfunding website Crowdcube to further develop its business, which offers fans a place to exchange tickets for gigs and other events.

The county council stepped up to invest £5000 in the company.

Luke, who is an ambassador for Lancashire’s Boost growth hub, said: “This funding will help us to further develop our product and its offering.

“We’ll be rolling out new features and benefits to our existing user base. We’ll also be developing and executing our national marketing strategy, to see our community grow exponentially, as we have a great foundation to build on.”

He added: “We need to grow our team, so we’re aiming to recruit new high-skilled, technical staff who can extensively develop our applications.”

Speaking further, Luke said that as a startup, traditional bank funding is “not an option” for Vibe.

He continued: “We’ve previously raised £400k through private investment from high-net-worth individuals who regularly advise and mentor us.

“This time we wanted to open up our funding to our fans and followers, so they can play an active role in shaping and creating the future of Vibe Tickets. The fans really are at the centre of our product, so it’s really exciting for us that we can give them a voice.”

Vibe recently made it to the final three startups in the Voom 2016 Virgin Media competition, the winners of which share around £1m in prizes. Since then, the company has received support from the Virgin Group and Sir Richard Branson.

Lancashire County Council Leader Cllr Jennifer Mein said: “Luke is a young man with a great business idea that caught our attention and we’re really pleased to back Vibe Tickets using Crowdcube.

“The council wants to work with and support our enthusiastic and committed business base in Lancashire, helping them to unlock their growth potential to create new jobs and wealth in the county.”

She continued: “Luke is a great example of someone who is out there, with his sleeves rolled up, making his business work.

“His national exposure through Vibe is a wonderful testament to his passion and belief. I’m looking forward to supporting and working with other ambitious companies in Lancashire.”

The co-founder of Crowdcube, Luke Lang, said his team is “incredibly excited” to be working with Lancashire County Council and Vibe as part of its ongoing expansion into the North West.

He commented: “We continue to grow our partnership function and co-funding sits at the core of this initiative.

“Crowdcube already enables the everyday investors to invest alongside venture capital firms, institutions, angel investors and the UK Government, we can now proudly add local councils to that list.”

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