US Expands Online Charter Portal PrivateFly Plans

An UK based online charter portal PrivateFly plans to raise up to $9 million in growth capital early this year for U.S. expansion, marketing and technology developments. On November 2011 was the First – round investment of approximately $3 million allowed the company to expand its
team, launch multiple language platforms across European markets and it’s develop its technology. Since then, PrivateFly has grown by more than 80 percent annually and projects it generated nearly $16.7 million in revenue last year.
This is the right time for a significant step up for PrivateFly,” said PrivateFly Chairman Capt Richard Carrick. “We are considering acquisitions and organic growth by capitalizing the business, which will allow us to scale up our disruptive expansion.
Since we launched in 2008, the industry has decisively moved Online, and PrivateFly will continue to lead the technology race in the growing Global Private Jet Marketplace

Susweta Bose  [Masters in Mass Comm ] 
Sub Editor