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One of the start-ups accelerated in our Autumn Accelerator 2023, Upfan, was recently recognized by Vestbee as one of the 10 Startups of the Month.
We’re curious to see what the founder and CEO, Andrej Nagy, has accomplished over the past year since completing our program. Let Upfan´s journey inspire all of us!
Upfan takes a stand against ticket fraud
Upfan is an innovative ticketing platform that:
- eliminates ticket fraud,
- enhances fan engagement,
- provides event organizers with full control over both primary and secondary ticket markets,
- ensures 100% ticket authenticity,
- empower organizers with actionable insights through advanced data analytics,
- personalize fan communication via push notifications,
- provides organizers with a new revenue stream from the secondary ticketing market.
Upfan´s application is available on App Store and Google Play.
Turning a ticketing nightmare into a game-changing solution
The initial concept for Upfan was focused solely on the secondary ticketing market. The inspiration for Upfan came from Andrej´s personal frustrations and bad experiences with ticketing. In 2019, he attended the Ice Hockey World Championship and bought second-hand tickets, only to discover they were fake.
„It was a devastating moment, realizing I had been scammed and had no recourse. This experience made me question why ticketing platforms weren’t doing more to protect fans like me.“, Andrej Nagy, CEO of Upfan, explains how he came up with the idea.
Another pivotal moment came when he used to attend the NBA Global Games in London. Tickets from the primary market would sell out instantly, leaving the secondary market as the only option. However, prices there were often ten times higher than the original price, making it inaccessible for many fans.
How market research shaped Upfan´s solution
At the beginning, Andrej planned to use blockchain technology to achieve transparency and security. However, as he began developing the idea and speaking with potential users, he realized that blockchain came with challenges like high transaction fees, scalability issues, and a steep learning curve for users.
Additionally, during market research, Andrej identified that many organizers not only struggle with secondary ticketing but were also dissatisfied with outdated and inefficient primary ticketing solutions. This shift was validated through the conversations with event organizers such as AC Sparta Prague, Oktagon MMA, or AFC Bournemouth, and reinforced by investor feedback, which emphasized scalability and market potential.
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Steps to gaining recognition
Andrej believes that being named as Vestbee’s Startup of the Month for October 2024 is a reflection of some strategic steps he´s taken to build and grow Upfan:
- focusing on solving real problems in the ticketing market and creating a solution that directly addresses these pain points,
- early validation and traction through the first two paying customers, including a professional football club and music festival,
- achieving first revenue with zero acquisition costs, combined with recognition from competitions like Souboj Startupů 2024.
Not always smooth sailing, challenges emerged along the way
The past year brought several challenges for Upfan:
- Securing the first customers was difficult - they had to convince organizers to switch from established ticketing platforms and educate them on the unique value Upfan provides. They used targeted cold outreach and tailored their approach to educate organizers about the unique benefits of Upfan, building trust along the way.
- Finding the right tech co-founders was another hurdle, but with the right connections, they successfully built a strong team. It became possible through the mentor in the AceON Accelerator.
- Operating on a lean budget required them to carefully prioritize high-impact tasks focused on essential platform features, and assign responsibilities strategically (such as delegating social media management to Andrej´s partner Janka Chovancová).
- Now, as they work to raise the first investment, Upfan is navigating the challenges of finding the right investor by emphasizing the traction, scalability, team, and potential to disrupt the ticketing market.
Searched for a CTO and found two: Andrej's advice on finding a tech co-founder
Finding a tech co-founder was a pivotal moment for Upfan. The connection happened thanks to Slavo Tuleya, the mentor in the AceON Accelerator, who introduced Andrej to Jakub Jelínek and Lukáš Nemec.
When Andrej shared his vision for Upfan with Jakub and Lukáš, they connected with the mission and joined as tech co-founders. Their expertise has been vital in developing the platform. Upfan’s next priority is to hire a full-stack developer to accelerate feature development.
For founders searching for a tech co-founder, Andrej´s advice is to:
- leverage your network - don’t hesitate to ask mentors, friends, or colleagues for introductions,
- create an account on the Y Combinator Co-Founder Matching Platform or searching communities like subreddit r/cofounder, where you can find like-minded individuals passionate about building something impactful.
- Building a strong, complementary team is one of the most important steps in any start-up’s journey, so don’t rush it, focus on finding people who truly share your vision and values.
To participate or not to participate in accelerators?
The first time Upfan attended an acceleration program was with AceON Accelerator.
„This experience helped me refine the business model and build confidence in my vision.“, says Andrej.
Since then, they´ve won Souboj Startupů 2024 by Startup Klub and were being honored as a Digital Leaders Award Runner-Up by the Institute of Leadership in London, which further validated their efforts in the ticketing industry.
Currently, Upfan is part of two accelerator programs simultaneously. Each of these experiences has played a crucial role in shaping Upfan´s journey and driving the success.
Upfan is actively fundraising
In 2025, Upfan focuses on scaling the platform, expanding into new markets like the UK, and onboarding new customers in Czechia and Slovakia. The team aim to secure pre-seed funding to fuel growth, hire a full-stack developer to accelerate product development, and enhance key features like data analytics and secondary market functionality.
