Fairlyne, a Paris, France-based Resale-as-a-Service platform for the travel industry, raised $3 million in a seed round as it looks to disrupt travel distribution by turning nonrefundable tickets into resalable fares.
The round was led by Speedinvest, with participation from Evolem, Kima Ventures, FJ Lab, and several angel investors.
The funds will be used to further develop the platform, expedite the deployment of Fairlyne with enterprise clients across the travel industry, and expand to new markets, including the US.
Using Fairlyne’s white label product, travel brands and operators can now add resale to their distribution, maximizing customer satisfaction by giving them more flexibility whilst generating additional profitability by providing a second opportunity for nonrefundable tickets.
Gilles de Richemond, Co-Founder, and CEO, explained: “With Michael and Morgan, we started thinking about new approaches to distribution while working together at Accor. We realized that travel customers were willing to resale their bookings, and meanwhile that no-shows represent a lucrative opportunity for travel operators if they could offer customers who couldn’t make it the chance to resell in advance. So, we built a platform, which can be integrated into any operators’ consumer-facing channels providing customers with a seamless resale experience. The incremental revenue from no-shows can be significant.”
Fairlyne just recently ranked 1st out of 300 startups in the Royal Air Maroc (RAM) Open Innovation Challenge.
Company: Fairlyne SAS
Raised: $3.0M
Round: Seed Round
Funding Month: July 2023
Lead Investors: Speedinvest
Additional Investors: Evolem, Kima Ventures, and FJ Lab
Company Website: https://www.fairlyne.com/
Software Category: Resale-as-a-Service platform
About the Company: Founded in 2021 in Paris, France, by Gilles de Richemond, Michael d’Eboli, and Morgan Guérin, Fairlyne is building the world’s first Resale-as-a-Service platform for the travel industry. With a focus on customer centricity, Fairlyne offers a white-label SaaS product that enables tourism and travel operators to establish their own secondary market on their channels. Through this cutting-edge solution, operators can generate additional revenue, boost brand loyalty, and create an exquisite customer experience.
Source: https://www.fairlyne.com/fairlyne-raises-3m-with-speedinvest-to-unlock-resale-for-the-travel-industry/