Vela has agreed to invest a further £200,000 in Vibe Tickets as part of a follow-on funding round.
Vibe Tickets has raised around £750,000 of follow-on funding, comprised of £618,450 of equity funding and the conversion of a loan note and associated interest.
Total funds raised to date by Vibe Tickets, a pre-revenue business, stand at around £1.7m.
The raising will provide it with additional working capital to expand its offering into new verticals, build up its user base and grow its headcount.
On completion of the investment, Vela will have a 5.17% equity interest in Vibe Tickets.
At 8:09am: (LON:VELA) Vela Technologies share price was 0p at 0.24p