Seatwave has raised $8 million in Series B funding, the British online ticket exchange service said today.

London-based Seatwave claims to be the United Kingdom's largest fan-to-fan ticket exchange.

The funding was led by Mangrove Capital Partners. Going forward, Mangrove co-founder and managing partner Mark Tluszcz will join the Seatwave board.

Launched Feb. 2 by ex-Ticketmaster executive Joe Cohen, the site claims to have handled more than 400,000 ticket exchanges. "In a very short time we've become the number one ticket exchange in the U.K. and we hope to soon expand across Europe."

Other investors in Seatwave include Atlas Venture, which provided $3 million in Series A funding in May 2006, and venture capitalist Oliver Jung.

"In the short time Seatwave has been operating, it has proven the massive demand for a service such as this and established itself as the most popular service in Europe," said Tluszcz in the statement. "The management team is by far the best in the market. We are excited to be on board."

The company is distancing itself from Britain's rogue ticket-tout and businesses and scalpers. In a statement, the company said it was embracing increased levels of protection for its users, and was liaising with the Department of Culture, Media and Sport to champion the cause of "cleaning up the ticketing business"" in Britain.