Fidelity Japan leads $3m round for e-ticketing start-up PeaTiX

PeaTiX, which has drawn comparisons to US site Eventbrite, launched in May 2011 and already has 10,000 events listed on its platform.

This most recent capital injection builds on a seed round of $1 million that closed last year. Investors included 500 Startups, DG Incubation, Itochu Technology Ventures, and SurveyMonkey CEO Dave Goldberg.

500 Startups and Itochu also participated in this Series A round, which will see Fidelity Japan's David Milstein join the Peatix board.

According to a release, the company will use the extra capital to fund its expansion into Singapore with co-founder Emi Takemura relocating there. The company also launched its services in the US this week. It currently has 20 staff in Japan, three in Singapore and six in New York.

PeaTiX plans to support 30,000-50,000 events over the next year - 10 times the volume it has handled to date. The company could face stiff competition in Singapore in the form of Sistic - the city state's dominant ticketing provider which has a number of exclusive arrangements with large event organizer.

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