Property mogul Nick
Candy’s Candy Ventures has invested a ‘significant seven figure sum’ in tech
business The Vibe Group it is reported.
Vibe Group Holdings operates ticket resale platform Vibe Tickets and peer to peer mobile payment platform VibePay. It is headed by tech entrepreneur and founder Luke Massie who has previously raised £4.7m private investment for The Vibe Group and is one of the youngest people to make Forbes 30 under 30 list.
The investment gives Candy
Ventures a 23% equity stake in Vibe Group Holdings, joining existing investors
Scott Fletcher, Vela Technologies and Massie himself.
Candy is reported to have
said: “I recognise a lot of entrepreneurial qualities in Luke that I know are
crucial for a tech start-up to achieve great things. He has identified real
demand from consumers and developed some game-changing products. Candy Ventures
is excited for the potential of this investment.”
Last year Vibe received more publicity coverage over the circumstances of its administration, which Massie rescued the business from, rather than about the business itself. Investors will no doubt be hoping The Vibe Group and Massie are now able to move forward and show the world what Vibe actually does.