A convertible round into UNTOLD is opening soon on SeedBlink, with festival access perks that scale with your ticket. Register to be the first to know when it goes live.
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UNTOLD is one of Europe's leading music festivals, with a deeply engaged global fan base. The upcoming round will let you back the core UNTOLD business through a convertible instrument and receive festival access perks scaled to your ticket size.
UNTOLD (Cluj) is the strong, established core of the business — a profitable, cash-generative single event. The company has refocused on this core: UNTOLD Dubai is paused, Bucharest is planned to return, and Neversea has been retired.
UNTOLD revenue and EBITDA, 2023–2026B:
Revenue grew ~28% in 2025 (€28.7m). EBITDA is before overheads, which reduce it at company level. 2026B = budget. Figures from the information memorandum.
UNTOLD's success — built around the flagship Cluj-Napoca festival and proven internationally in Dubai — has made it a sought-after partner for brands, investors and cities worldwide. Its long-term vision is a network of 20 mega-festivals with a presence in 30–50 cities.
Launched in Bucharest in 2025, Kapital gives the group a second domestic flagship in the capital — now being consolidated and scaled as part of the expansion strategy.
The first confirmed international expansion: a new UNTOLD festival in Colombia in 2027, opening the group's Latin American footprint.
Two successful editions under a long-term partnership with the Government of Dubai and Dubai Parks and Resorts — and a world record, Armin van Buuren performing on the Burj Khalifa, the world's tallest building. A next edition is being finalised.
Advanced discussions for new festivals and partnerships across Brazil, the United States, Canada, Japan, China, Egypt, Spain and Greece — each a potential, capital-light layer of growth.
“UNTOLD has shown that a brand created in Romania can compete at the highest level on the global stage. Today we enter a new chapter — building an international entertainment group and giving the community that has supported us the chance to take an active part in this growth.”
These initiatives are forward-looking and not guaranteed: timing, terms and completion remain subject to confirmation. The base investment case rests on the established Cluj-Napoca core.
A preview of the structure. Full, final terms will be available on the SeedBlink campaign page at launch.
| Issuer | Untold Universe SA at issuance; the instrument and underlying IP / cashflows are planned to migrate to Untold BV (Netherlands), which would then assume the issuer's obligations |
| Instrument | Convertible Loan Agreement; syndicated under an investment vehicle designated by the Company and SeedBlink post-conversion |
| Coupon | 12% p.a., simple (not compounded), accrues — paid if the loan is repaid, waived on conversion |
| Maturity | 36 months; if no earlier conversion has occurred, the loan auto-converts at fair market value less a 10% discount, subject to the valuation floor and cap |
| Conversion | At Untold's sole discretion; investors cannot elect or demand conversion. On conversion, principal converts at a 10% discount to the next qualified financing round, subject to the valuation cap and floor. |
| Valuation cap | €60m (equity) |
| Valuation floor | €20m (equity) |
| Repayment | Untold may repay principal plus accrued coupon at its discretion during the 36-month term. Repayment also becomes due on an event of default, including insolvency or breach; if not repaid by maturity, the loan auto-converts. |
| Change of control | If sold before conversion, Untold may elect repayment of principal plus accrued coupon or conversion at the lower of the €60m cap price and the exit price less 10%, subject to the €20m floor; failing an election, the loan auto-converts. |
| Minimum ticket | €2,500 |
| Use of proceeds | 50% — current and next UNTOLD Cluj-Napoca editions · 50% — preparing the next Bucharest edition. See Use of funds. |
| Administration | Managed via the SeedBlink platform |
Indicative and subject to change. Not an offer of securities or investment advice.
The raise is split evenly between the current and next UNTOLD Cluj-Napoca editions and preparation for the next Bucharest edition.
Half of the proceeds are allocated to the Cluj-Napoca flagship editions, supporting operational and working-capital needs across the annual planning cycle.
The balance is allocated to preparing the next Bucharest edition, covering production runway, upfront deposits, site preparation and operational groundwork.
Allocations are indicative and may be reprioritised by management as planning for the 2027 editions develops.
Every investor becomes part of The UNTOLD 500 — a private circle of just five hundred numbered, permanent memberships (№001–№500). It sits alongside the financial instrument and its conversion terms. A lower number carries more standing, and benefits compound for every year you hold.
Five hundred passes, №001 to №500 — yours to keep, transfer or pass on. The lower the number, the more standing it carries.
The pass is digital and lives in the UNTOLD app — the key that opens every door across the group, with nothing to print and nothing to lose.
A new benefit lands every year you hold. The membership is never static — it grows while you hold it.
Once a year the 500 gather during one of UNTOLD's festivals — a private event inside the show, in a different city each year.
A numbered, members-only festival bracelet each year — wearable and collectible. The set grows with every edition you hold through.
Early access to every on-sale across the UNTOLD Group — you buy before the queue forms.
A members' package from the Christmas Markets each December — the one benefit that lands when the festivals are quiet.
Members help shape who plays, cast from the UNTOLD app — one pass, one vote.
One unannounced benefit a year — merch, allocations, collectibles or credits. Never the same twice.
A private members channel, leadership AMAs and an annual founder's letter written for the 500 before anyone else.
The UNTOLD 500 is a loyalty programme separate from the financial return; benefits may evolve over the holding period. Tax treatment of perks (potential benefit-in-kind) depends on your circumstances.
Join a live call with the UNTOLD founding team to hear the plan for the round and ask your questions directly.
The Zoom link will be emailed to everyone who registers below.
Leave your email and we'll send you a single message the moment the UNTOLD round goes live on SeedBlink — including the deck, the full term sheet, and how to invest.
Invitation-only round.