Skiddle takes first outside investment in 25 years to fund European expansion

Preston ticketing platform Skiddle has taken on external investment for the first time in its 25-year history, as it plans to expand across Europe and into new markets.

Soho Square Capital has made an undisclosed growth investment in the business, which Ben Sebborn and Richard Dyer set up in 2001 and which has grown without outside funding since launch.

The money will help Skiddle move beyond its core music, festivals and nightlife business, with lifestyle events the immediate priority.

It will also fund further spending on technology, marketing and business development, along with plans to launch in new European markets over the next few years.

Skiddle began as a simple What’s On guide to help people find local events. It has since become one of the UK’s established independent ticketing businesses. Its revenues are reported to have grown by an average of more than 20% a year over the past two years.

Through the deal, Skiddle will also be able to draw on Soho Square’s strategic experience and on a group of companies that have already expanded into Europe, helping it pursue its international plans faster and at greater scale.

Founders stay in control

Sebborn and Dyer retain control and keep their leadership roles, working alongside chief financial officer Peter Hinnigan and the long-standing senior management team, while Joe Tebbutt joins the board representing Soho Square.

In a joint statement, the co-founders said: “We started Skiddle because we wanted to help people find out what was on. Twenty-five years later, that’s still at the heart of what we do, but the opportunity ahead of us is bigger than ever. We want to help more people discover brilliant events, give more independent organisers the tools and support to grow, and take Skiddle into new markets. This investment gives us the backing to move faster across Europe, build our lifestyle offering and keep improving our technology.”

They added: “Taking investment for the first time was a big decision. Finding a partner who understood Skiddle, our independence and the relationships we’ve built with promoters and fans was essential. Soho Square’s approach means we keep control of the business we’ve spent 25 years building, with the support to take it further.”

Joe Tebbutt, director at Soho Square Capital, said: “Skiddle is a rare example of a founder-built business that has become a leader in its market through great service and a genuine understanding of its customers. Ben, Richard and the team have earned the loyalty of promoters and fans alike, and the business has grown strongly as a result.”

He continued: “This is exactly the kind of transaction Soho Square was built for: the founders stay in control of the business they built and fully committed to it, with the capital and support to pursue their plans for growth. We are delighted to be partnering with them for Skiddle’s next chapter.”

It is Soho Square’s second investment from its Soho Square Partnership Capital Fund II.