Glownet & Downing Press Release 2018

                                                          

Bosham Capital Advisors secures Series A investment for Cashless Payment market leader Glownet

LONDON 30th April, 2018

£2 million round led by London-based VCT Downing Ventures.

Glownet – www.glownet.com - global market leader in the provision of cashless payments, access control and social engagement in the live events sector announces the successful completion of a Series A fundraising, managed by Bosham Capital Advisors (BCA) – www.boshamcapitaladvisors.com.

BCA is pleased to announce the successful completion of its first institutional-backed deal, with Downing Ventures. The corporate finance and capital advisory specialist has now secured over £25m of venture growth capital since it was founded three years ago including Vashi (www.vashi.com) and Ptarmigan (www.ptarmiganland.com).

BCA has worked closely with Glownet since June 2017, offering a number of services including strategic positioning, new market entry into the US and business development in Asia.

London based Downing Ventures – www.downingventures.com with both EIS and VCT funds has invested £2m growth capital which will enable Glownet to continue developing its operating platform, expand into new verticals, complete new hires and accelerate new market penetration, including the US.

Edward Boddington, Director at BCA commented:

This is a milestone mandate for BCA. We are delighted to have completed this capital raise with Downing Ventures, who we believe are the right partner to support Glownet’s mission of exploiting the market adoption of cashless payments in live events.

Glownet Chief Executive Officer, Siebe Gerbranda added:

BCA has been instrumental in securing investment from Downing Ventures and has supported us on various fronts over the past twelve months. We believe this is an optimal point in Glownet’s development in which to establish our partnership with Downing, as we look to drive aggressive expansion in terms of both product and territory coverage.

James Lewis, Investment Director at Downing Ventures, said:

We have been impressed with BCA, who introduced us to Glownet and diligently managed the investment process, and plan to build upon this relationship moving forward. The Glownet team has achieved great things so far and our funding support should allow them to build on this success by further enhancing its technology and expanding into new major markets.

How does Glownet technology work?

Glownet has developed a revolutionary cashless payment platform, allowing attendees to store ticket information, carry out cashless transactions and capture social media profiles. Significant data can also be gathered through their platform and used to market to attendees and prospective sponsors.

Glownet’s platform can be seamlessly connected to multiple ticketing systems and event software management and its cashless payment technology also connects to all types of ‘digital wallets’ including smartphones and smartwatches.

About Glownet

Glownet - www.glownet.com - is the live event industry's leading universal contactless event management platform. Since its launch in 2012, Glownet's solutions have been deployed at 500 events and across 30 markets worldwide, including recent entry into the US. The platform supports dozens of simultaneous events and attendances well in excess of 100,000 per day. Partners include Live Nation, Eventbrite, Ultra Music Festival, Lollapalooza, Sonar and brands such as Pernod Ricard, PayPal and Spotify. Glownet is a London-based business with operational hubs in Spain, UK, Netherlands, Australia and the US.

Siebe Gerbranda, Glownet Limited
+34-697-914353
siebe@glownet.com

About Bosham Capital Advisors

Bosham Capital Advisors (BCA) - www.boshamcapitaladvisors.com - is an independent investment, corporate finance and capital advisory firm, based in London, which acts as an advisory bridge between investors and investees in Asia & UK. BCA provides investment, corporate finance, strategic advisory, M&A and capital raising services across the digital-media, disruptive technology, consumer and real estate sectors.

Edward Boddington, Bosham Capital Advisors
07711 684408
bod@boshamcapitaladvisors.com

About Downing Ventures

Downing Ventures - www.downingventures.com - is an evergreen fund investing in seed to Series A companies, with the possibility of follow-on investments. We invest in a variety of technology sectors including consumer internet and mobile, enterprise software, defence and security technology, financial technology and health technology. We have a portfolio of 38 companies as at February 2018. We work alongside a number of investment partners and accelerator programmes and incubators, including the London Co-Investment Fund.

Jean Birrell, Downing PR Consultant
020 7416 7780
jean.birrel@downing.co.uk