Online ticket seller receives funding boost

A DIDSBURY company which harnesses the power of social networking websites to promote events and sell concert tickets has secured a five-figure Enterprise Finance Guarantee (EFG) loan from NatWest.
  
Fatsoma recruits users of social networking sites like Twitter and Facebook to sell tickets to their friends online and pays a commission to them of up to 10% of the value of each ticket sold.

The company’s clients include event organisers, venue owners, festival organisers and independent artists.  It sells more than 15,000 tickets a week.

Fatsoma was set up in in 2006 by directors Paul Stacey, Ben Taylor and Chris Pearson and already has more than 4,400 online recruits.  It said the EFG funding would be used to provide working capital to support the company’s growth plans during the next 12 months, which include recruiting additional sales staff and increasing its marketing and advertising channels.         

Fatsoma director Paul Stacey said: “We are proactively looking to grow the Fatsoma concept both in the UK and in international markets. As a young and innovative company we believe that we can offer existing and potential clients a competitive alternative to some of the more established names in the market.”