Newcastle events platform raises £440k amid prediction that market will "bounce back strongly"
A Newcastle events booking platform has announced that it has raised £440k as it pursues its global expansion plans.
Poptop has received the funding from existing investors DSW Ventures and NorthStar Ventures to support its plans to deliver more than £10m in bookings this year.
The company currently represents over 14,000 suppliers to the private events industry, and is planning a Series A funding round later in the year.
Co-founder Eugene Shestopal commented: “We are confident that in 2021 the market for private events will bounce back strongly and Poptop will play an important role in the redevelopment of the industry.
“The technology we’ve built allows us to significantly improve the customer’s experience of planning an event and increase conversions and bookings for our suppliers.
“The new funding will allow us to further enhance the platform and start to expand internationally and into new sectors.
“2020 was a tough year for the events industry but our platform is going to be a massive help for entertainers, caterers, and for the whole industry to get back to business.”
David Smith, co-founder of DSW Ventures, said: “The Poptop team have performed wonders. Their business exists to deliver fun and stress-free social gatherings.
“Despite their core market being on ice for nearly a year, they have evolved their product, found new revenue streams, and delivered a world-first real-time booking platform for the private-events marketplace. 2021 will be a transformative year for Poptop.”
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