London-based private jetshare community Victor has secured £1.5m of investment in its first round of fundraising.
Victor is an online trading platform which allows people to buy individual seats on shared private jets, so they can travel in style at an affordable price without using budget airlines.
The Fulham-headquartered business intends to use the money to drive its marketing campaign, and innovate to increase its member base. Victor is also looking to recruit in order to take it on to the next stage of development.
Victor CEO and founder Clive Jackson said: “There is a massive opportunity to develop a new growth market for private aviation and meet the demands of this new market who are currently not served. Most routes across Europe are dominated by low cost airlines.
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“Victor plans to break into the US and Asia markets by the end of this year and because we are an internet-based company, we see almost unlimited potential for growth.”
Much of the investment that the company has received has been from London-based backers, while around half of them are members of Victor, according to Jackson.
Victor members can secure seats on private jets flying from UK airports such as Luton, Biggin Hill and Oxford. From there, they can fly to popular business destinations and second home resorts on the continent.
“Victor now has the largest contracted fleet of private jets in Europe, we offer over 200 aircraft flying to a choice of nearly 1,000 airports, departing from 30 different airports in the UK alone,” said Jackson.
“Our most popular routes serve the hotspots for second home owners – Mallorca and Cote d’Azur and business centres – Geneva and Zurich. We launched a German language website at the beginning of the year to meet a growing demand for German business.”
Jackson is convinced that Victor’s business model of allowing people to use the internet to join together and get a better deal is one which will continue to prove popular with members.
He said: “The main difference about Victor is the fact that members can join and then us Victor to help gather enough friends to share a jet. Given the size of our aircraft, general we are talking about find four friends to fill a small jet.
“The proposition is “yes you can, afford this”, the thinking is to let members pay per seat and crowd source enough friends to make something happen.”