The Munich-based travel startup Flyla has completed its first round of financing. The former CFO of Jochen Schweizer and business angels from the apa-Friends investor group have invested in the travel portal for students.
The amount of the financing round was kept confidential. Managing Director and co-founder Fabian Höhne stated that the sum is sufficient to establish and promote the platform in Switzerland and Austria. The company plans to expand into the European DACH market, which has 20 million customers, in 2020. The new capital will therefore be used to build a marketing and development team. This will expand the travel portal and integrate additional airlines.
Flyla-Managing Director Fabian Höhne says:
"We are delighted by the trust and support of renowned investors. Together we are building the world's largest travel platform for students."
Financing and advisory board to boost Flyla
In addition, the company, founded in 2018, has gained an advisory board of industry experts. These experts, primarily from the travel industry, support Flyla with the strategy, conception, and development of the travel platform. The Munich-based startup has found a niche with its offering: Flyla offers students leftover airline seats via its platform, thus offering particularly affordable flight deals.
Early partners include Eurowings, Lufthansa Group, Etihad Airways, and other international airlines. Ten more airlines are expected to join in 2019. The initial customer focus will continue to be on students at universities in Germany, Austria, and Switzerland.
