Vibe Group secures £2 million investment from Nick Candy

British property developer Nick Candy has invested more than £2 million in UK ticket resale firm Vibe Tickets, acquiring a 23% stake in holding company Vibe Group.

Candy – who with his brother Christian is behind projects such as One Hyde Park and NoHo Square (now Fitzroy Place) in London – is funding his investment in Vibe through his private fund, Candy Ventures. Vibe’s founder and CEO, Luke Massie, remains the majority shareholder.

Lancashire-based Vibe was bought out of administration by Massie, in 2018, and he later gifted equity in the new company to its original investors. Other shareholders include Scott Fletcher MBE and investment firm Vela Technologies.

Candy’s investment will support Vibe’s new mobile payments platform, Vibe Bay, according to Business Cloud, as well as Vibe Tickets, a community-orientated ticketing marketplace.

“WE ARE GATHERING MOMENTUM AT AN INCREDIBLE PACE”

Says Massie: “This is a significant milestone for the Vibe Group. To have the backing [of] Nick Candy and his experienced team at Candy Ventures, as well as the continued support from Scott and Vela, is a huge endorsement for the brand.

“We are gathering momentum at an incredible pace and making major progress in product development. We always put the consumer first and build products that add value to their everyday lives.”

“I recognise a lot of entrepreneurial qualities in Luke that I know are crucial for a tech start-up to achieve great things,” adds Candy. “He has identified real demand from consumers and developed some game-changing products.

“Candy Ventures is excited for the potential of this investment.”

Source: https://www.ticketnews.com/2019/06/property-developer-nick-candy-vibe-tickets/

Manoj Ranaweera

Manoj has founded, failed and successfully exited from a number of technology product companies as well as support organisations since 2004. Among them, Northern Tech Awards and edocr.com were acquired by GP Bullhound and Accusoft, Inc respectively. Today, Manoj is building a trusted support network for technology companies. He is working with founding teams to help them accelerate including raising investment and M&A.