Chicago-based ticketing platform XP has secured $6.2 million in a round led by Blockchange, with additional participation from L1D, Reflexive, and other undisclosed investors. This new capital injection is a major step forward for XP. Thanks to its commitment to transparent pricing and a frustration-free experience, it has quietly grown into a fan-favourite secondary marketplace.
XP plans to use the funding to deepen its product development and expand operations across the US. A key area of investment is the platform’s use of AI and blockchain to build identity-driven features that personalise the ticketing journey. These enhancements will create more connected experiences between fans, artists, athletes, and event organisers, turning passive ticket buyers into engaged, loyal communities.
XP’s forthcoming features will include blockchain-based digital ticketing, which combats fraud and enables seamless ticket transfers and resale. The company is also developing AI-driven recommendation engines that suggest events based on a user’s tastes and past attendance and community perks such as exclusive content, early access, and loyalty rewards.
Resolves broken ticketing systems and hidden fees
XP aims at a long-standing frustration in the live event industry: opaque pricing and high fees from incumbent ticket marketplaces. Fans often experience sticker shock at checkout, when hidden service fees inflate ticket prices by 20-30% or more. Many buyers feel trapped by limited inventory, confusing listings, and unreliable sellers.
The company solves these issues by offering transparent, upfront pricing with no hidden fees. What fans see is what they pay for. Its Tixpy feature automatically compares total ticket prices across other resale sites, ensuring users always get the best deal. XP users also benefit from Price Alerts, which notify them when ticket prices for specific seats drop within their budget.
XP also leverages the Solana blockchain for ticket verification, making it nearly impossible for counterfeit tickets to circulate on the platform. Every ticket comes with a digital certificate of authenticity, and users can pay via traditional methods or with crypto (USDC), catering to both mainstream and Web3-savvy buyers.
The platform has already seen strong traction, boasting millions in annualised ticket sales and offering access to over 50 million concert tickets, sporting events, and live shows nationwide. XP’s rapid growth is supported by strategic partnerships with major event organisers and independent venues, expanding its inventory and reach.
By leveraging cutting-edge technologies, XP is working to create a smarter, more trustworthy resale ecosystem. Personalised rewards, community-driven perks, and predictive pricing alerts are just a few features the company hopes will make ticket buying as exciting and engaging as the events themselves.
Founder with vision for fair ticketing
XP was founded in 2024 by Michael Saunders, a seasoned entrepreneur with a background in building online marketplaces and consumer-first digital platforms. While specific details about his past ventures are under wraps, the XP team reportedly includes industry veterans who have facilitated billions in online transactions.
Saunders previously co-founded Dotmenu, a campus food delivery startup Grubhub acquired for $50 million. He later served as an executive at Grubhub, helping scale the company to IPO. Saunders’ leadership at XP is informed by his experience building platforms that prioritise user trust and transparency.
Saunders’ vision for XP stems from a belief that ticketing should be more than just a transaction. It should be a seamless part of the fan experience. His leadership focuses on aligning the incentives of fans, vendors, and entertainers to create a more open and equitable live events ecosystem.
A Transparent, fan-first marketplace
XP is a secondary ticketing marketplace built to prioritise fans. Its core features include:
- No hidden fees: Unlike most platforms, XP shows fans the final price upfront with no surprises at checkout.
- Tixpy comparison tool: Helps fans automatically compare total prices with competing marketplaces to find the best deal.
- Price alerts: Notifies users when tickets for their preferred seats hit their target price.
- XP guarantee: Every purchase is backed by the platform’s Quality XPerience Guarantee, ensuring smooth and secure transactions.
- Fan-centric features: Upcoming innovations include blockchain-based identity layers and AI-driven recommendations to offer fans personalised rewards and event experiences.
XP’s platform is also designed to comply with the latest regulations, including the Federal Trade Commission’s new “junk fee” rule (effective May 2025), which mandates all-in pricing for ticket sales. This regulatory environment gives XP a competitive edge as it already operates with full price transparency.
In essence, XP is working to flip the script on ticket resale from a space riddled with fees and friction to one that is open, fair, and empowering.
Our thoughts
XP’s timing couldn’t be better. With rising demand for live entertainment and growing consumer backlash against legacy platforms like Ticketmaster, there’s a strong market need for a more transparent, fan-oriented alternative. XP’s no-fee model and commitment to price transparency directly address this pain point, and with fresh funding, it’s well-positioned to scale its reach and refine its tech.
The secondary ticketing market is projected to reach $6.5 billion by 2032, growing nearly 10% annually. XP’s unique blend of blockchain security, AI personalisation, and regulatory compliance positions it to capture a significant share of this expanding market.
The use of AI and blockchain isn’t just trendy. It also reflects a deeper intent to redesign ticketing from the ground up. By putting control back in the hands of fans and aligning incentives across the value chain, XP stands out as more than just another resale site. It aims to become a full-stack fan engagement platform, making it a startup worth watching.
If XP continues on its current trajectory, it could redefine how we think about buying tickets, not just as a transaction, but as the first step in a richer, more rewarding live experience.
“Buying tickets shouldn’t feel like you’re getting taken advantage of,” said Michael Saunders, founder of XP. “Fandom is an integral part of a person’s identity, and yet most platforms treat fans like transactions. We believe fans deserve better—and that starts with recognizing and rewarding fans’ loyalty and passion.”
“Every fan interaction on XP—from discovering new events to purchasing tickets to reliving cherished memories—is designed to be rewarding, joyful, and genuinely magical,” Saunders emphasised. “We’re not just changing the way fans buy tickets; we’re revolutionizing their entire experience.”
