Bosham Capital Advisors (BCA), independent Investment, Advisory and Capital Markets specialists, has been appointed by market leader Glownet to develop its strategic positioning globally and to work with the company on an investment strategy for a £2m Series A capital raise in September.
Glownet specialises in the provision of contactless and customer insight services to the live event industry. Glownet’s product suite empowers organisers to run their events both more efficiently and profitably. Its proprietary contactless platform eliminates queues, theft, increases spend per head and creates happier and more loyal fans. Utilising closed loop NFC technology, the platform is regarded as the most reliable point-of-sale solution developed for the challenges of a live event environment. The global market for live music alone, where Glownet is currently focused, is expected to top $29bn by 2021 (Source IQ). Since its launch in 2012, Glownet has managed over 400 contactless events in over 30 countries.
In its last financial year, Glownet serviced well over one million cashless consumers on its platform. The most common credential item is a chip-enabled wristband that consumers wear at events. Patrons can use this seamlessly to enter, allow access to certain areas and buy goods and services inside the event without the need to carry cash. Development is already underway to deploy a hybrid offering which presents attendees with the choice between paying with their wristband or their everyday contactless card or smartphone app.
Glownet is planning to raise £2m to expand its sales and partner programme, further develop its platform and enter new verticals. Recent appointments include the hiring of Siebe Gerbranda as COO from Google and and Pedro Bandeira as Sales Director.
Scott Witters, Founder and CEO of Glownet commented:
“We are delighted to be working with BCA on our capital raise. It is useful to have an independent advisor who can work with us to formalise our strategic positioning and also to draw up a robust investment strategy. The live events market continues to enjoy strong growth and Glownet is leading the disruptive trend in the industry. We are committed to building upon our position as the universal event management platform that will enable live events to become digital over the coming years”
Edward Boddington, Director at BCA said:
“Glownet is an excellent investment opportunity due to the number of favourable drivers in the live events space together with the leading market share position that Glownet has been able to build. Their team is experienced, committed and the company is now ready to move to the next stage. We look forward to working with them”
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