Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Events startup Pollen enters administration months after raising £124m

by August 11, 2022
August 11, 2022
Events startup Pollen enters administration months after raising £124m

London-based events startup Pollen has entered administration after failing to find a buyer. The collapse of Pollen comes just months after it raised $150m (£124) in funding.

The company, which has received taxpayer funding via the government’s Future Fund, had been seeking a buyer for the whole business.

But according to an email sent by one of Pollen’s co-founders and seen by Sifted, parent company StreetTeam Software Limited is “appointing administrators to restructure after we were not able to sell the company in its entirety”.

The restructuring will see the company’s college travel business split off from the consumer-facing events business, Pollen.

The writing appeared to be on the wall for Pollen for many months. Sky News reported on Tuesday that the startup had been looking for a buyer for weeks after calling in Goldman Sachs to assist with a buyout.

Early on Wednesday, the Telegraph confirmed that Pollen was unable to find a buyer and had hired Kroll to “administer its restructuring”.

Pollen struggles

In April, Pollen raised £124m in Series C funding. Despite this, Pollen has been struggling to pay operators, employees and customer refunds for cancelled events.

Founded in 2014 by brothers Callum and Liam Negus-Fancey, Pollen works with music and events promoters to sell curated experiences. The company said it had been blighted by Covid-19 restrictions globally and the more recent economic downturn.

The cancellation of events has created ire among customers who have complained of being unable to get a refund.

UKTN was unable to reach Pollen for comment.

According to Crunchbase, Pollen has received a total of $238.5m (£197.3m) to date. Backers include the likes of Kindred, Northzone, Sienna Capital and Rishi Sunak’s Future Fund.

It’s not the only events platform that is having a rough time, with competitor Hopin reducing its employee headcount by 29% last month.

Read more:
Events startup Pollen enters administration months after raising £124m

0
FacebookTwitterGoogle +Pinterest
previous post
Podcast services startup Auddy raises £2.5m
next post
UK government must tackle digital poverty to close skills gap

You may also like

UK’s growth stage sector urges government to ‘go...

November 9, 2022

Owner of Training Center Daniel Moscatiello On How...

October 18, 2022

Labour set to renationalise most rail services within...

April 25, 2024

7 Essential Books to Read Before Law School

March 2, 2023

Cost of living crisis and Royal Mail strikes...

December 8, 2022

Should Politics Be Kept Out of the Office?...

June 20, 2024

Berry Bros & Rudd families warn inheritance tax...

November 7, 2024

Ex-fortnum chief Venters fashions new role at Paul...

February 6, 2025

UK exports to the EU boomed 4.4% in...

September 14, 2023

Taylor Swift ticket prices plummet by 90% in...

August 14, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Meet ‘China’s man in Lima’ who jetted over to US to collect trains donated by Biden admin

      July 12, 2025
    • Inside Dan Bongino’s tense meeting with White House officials over Jeffrey Epstein fallout

      July 12, 2025
    • Could Butler happen again? Former Secret Service agents weigh in on political violence in 2025

      July 12, 2025
    • DAVID MARCUS: Trump is flunking his MAGA base’s Jeffrey Epstein test

      July 12, 2025
    • A Deep Dive into Duron Ontario Ltd.’s Construction Career

      July 12, 2025
    • One in six UK workers struggling to pay bills as second jobs hit record high

      July 12, 2025

    Categories

    • Business (8,456)
    • Investing (2,118)
    • Politics (16,015)
    • Stocks (3,205)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved