YPlan event app snags $24mn worth of funding

YPlan, the UK-based mobile app which provides of shortlist of local events users might be interested in going to (and facilitates easy payment for tickets), has managed to secure $24 million (£15.3 million) in series B funding.

That money is being put up by outfits led by existing investors General Catalyst Partners, Wellington Partners and Octopus Investments.

YPlan boasts that it has grown 300 per cent over 2014 compared to the previous year, and its app is now installed on almost a third of all iPhones in London. The app has seen a total of 1.5 million downloads since the startup kicked off two years ago, and its main markets are London, New York and San Francisco.

YPlan says that the fresh funding injection will be spent bolstering its core markets, and expanding to new ones, with plans for accelerated development throughout next year and beyond.

Rytis Vitkauskas, co-founder and CEO of YPlan, commented: “Just two years since we launched we’ve made a real impact on our industry, transforming YPlan from an idea into an exciting mobile-first local marketplace that is significantly disrupting an $80bn global events market.”

“This investment enables us to expedite the development of several key technologies for our event partners and customers alike, and supports further geographical expansion.”

YPlan is promising to update its app with a raft of new social features soon.