We believe that everyone should have the right to experience the joy of travel and adventure. Our goal is to make it possible for everyone to travel, to make memories for life and share them with friends. We aim to make flying easy and accessible by creating a next generation tech travel platform. Inspired by social network features and powered by FinTech.
The Problems We're Trying to Solve
Problem #1 The airfare prices can get really expensive which makes it hard for a lot of millennials to travel. By the time they manage to save up the money for the ticket the airfare prices increase even more.
Solution #1 There is a huge trend of monthly payments nowadays. You pay for almost everything, from your Netflix to your iPhone in installments. But there is nothing about paying in installments regarding flight tickets. So we came up with a simple idea of making it extremely easy to spread the cost of the ticket over monthly terms. By locking in prices months in advance, you can protect yourself against rising airfares.
Problem #2 The current travel booking industry is outdated and messy. A lot of flight search engines take a lot of time to find the tickets, and they are not so easy to use.
Solution #2 That’s why we’re a user-friendly, super fast, tech travel platform. Our flight search algorithms are 16 times faster than any other booking website that you are using today. The entire booking process is very simple: loading flights only takes seconds, and you can purchase a flight within minutes.
Problem #3 66% of the millennials don’t have or use credit cards. In order to purchase a flight, they have to ask for their parents’ cards which can be quite uncomfortable.
Solution #3 That’s why we offer payments with iDEAL, a method of payment that enables consumers to pay online through their own bank, monthly.
Problem #4 The cool thing about the internet is the fact that you can book flights online instead of going to your local travel agent. But besides that, there hasn’t been much innovation in that area.
We come up with innovative solutions, such as flight invites and social bookings. You can easily send invites to your friends so they can join you on that flight, and travel together. No more hassle when organising group travels.
The Product Demo
We care about the design a lot so we have designed a beautiful website. If you decide to pay in installments you can choose the payback period - whether you want to pay back everything in the next month, or if you need more flexibility so you can pay it back over six or twelve months. During the checkout, a credit check is performed by Afterpay. This takes 2-4 seconds. Once the credit provider approves the credit, we purchase the ticket from the airline and send it directly to the customer. The customer pays his monthly ticket price to the credit provider. The whole process is fully integrated, simple and fast.
Our goal is to build a next generation travel platform inspired by social network features and gamification elements. In the upcoming months, we’ll introduce ‘Flight Invite’ through which you can book a flight with your friends. We’re also working on gamification - during your travel score points and collect badges. Earn trophies and beat your friends with higher scores.
We believe FinTech is a movement. A movement based on 2 principles that will shape the future of the financial industry: 1) Transparency - it’s about making sure that the customer genuinely understands what he’s paying for and that he knows the exact amount of money he’s paying per month (without having to read a seventy page terms and conditions document). 2) Accessibility - it’s about creating automated financial services that are taking blind decisions. Blind to class, race or gender. Blind decisions that are genuinely good decisions.
Why Should You Invest in US?
Product If you look at any other flight search engine you’ll see that we’re different. First of all, we’re not a travel company, unlike our competitors. We’re a tech company that offers smart tech solutions for problems in the travel industry. The fact that you can lock the price of the ticket in advance and pay in instalments, the accessibility and the user-friendly platform also set us apart.
We’ve already run our test on the B2C market and we know our cost per click. We can show our first metrics and results, which are very promising, to potential investors. Our conversion rates show that we are a profitable business. When targeting young professionals we even achieved costs per click that were 80% lower than any other in the travel industry.
We started generating revenue from day one. The cool thing about Flymble is that our business model is very easy - we earn a fixed booking fee from our end user and we have negotiated a percentage affiliate income from our airline and credit partners.
We’re a very young, but a very passionate and dedicated team of three. And we’re on a mission to make Flymble the best tech travel platform! We’ve paused our universities, one of us moved to Amsterdam from a different country in order to work on the product, and each of us made a massive sacrifice to make this work.
The Type of Investors We're Looking to Attract
The most important thing for us is to have a CLICK with the potential investor. We’re not exclusively looking for the money, we’re looking for people that are convinced they can help us through the process with their experience. We want somebody who can challenge us, especially because we’re such a young team.
Last year we raised 170K. With that, we have built our website and validated our product through initial online advertisement testing. We are now looking to raise 300K and have already received significant interest from our existing investors base. We will spend 55% on development, 25% operational costs and 20% on marketing expenses. This we will use to prepare our product for growth to reach 2000 monthly ticket sales. We can provide additional information if you have questions.
Our Plans and How We'll Utilize the Funding We Raised
Our focus is definitely on the experiments we’ve already started. We’ve collected tremendous amounts of data that we have to analyze. In the end, it comes down to how many users you can get and we’ve already succeeded in getting users to our platform. Our second challenge is to actually get them to make a purchase. We’re already doing quite well, but we only started doing that recently.
In terms of what we’ll spend the funding on, we’ll focus on establishing new partnerships, because we find them incredibly important, and we believe they can make us move forward. We’re very happy with our partner Kiwi.com, we’re the first in the travel industry to have partnered up with After Pay, and we’re in the process of advanced talks with 2 large banks. We also want to utilize the funding for the further development of the platform and for finding someone who has experience in business development.