Seatbooker Completes Funding in Toughest of Markets

The unique business opportunity presented by Seatbooker's innovative Internet ticketing software and services, has made it possible to complete first stage funding despite current IT market conditions.

The investment made by the http://www.lacomp.co.uk">Lacomp British Enterprise Investment Fund, an Inland Revenue approved EIS registered fund, was for an undisclosed amount in ordinary shares. Lacomp were advised by Catalyst Investment Group.

Renwick Haddow of http://www.catalystinvestment.co.uk">Catalyst said "We've advised on several fund investments recently and this one is without doubt the most dynamic IT business to receive funding that we have seen for a long long time."

Pat Bernstein of http://www.seatbooker.net">Seatbooker said, "I'm delighted that our confidence in our people and the services they have produced, has been validated by searching scrutiny by investors. This investment has several major positive impacts on the business. However, there is a downside. We have up to now, grown both market share and competitive edge without being noticed. This will significantly raise our profile and signal a clear warning to others in this market."

The benefits the investment brings to the company are:

    It is a clear statement to the market of confidence in products and people
    It brings forward plans for expansion to new markets
    Finally, it allows the company to confidently bid for major opportunities

Seatbooker were advised by Patrick Cannon of Field Fisher Waterhouse.