What is FlyCoin?
FlyCoin is pioneering a blockchain-based approach to travel rewards, aiming to rectify the shortcomings of traditional programs that often frustrate customers with complex rules and an "alliance-first" mentality. By transforming passengers into stakeholders, FlyCoin leverages the democratic and decentralized principles of cryptocurrency to create a more equitable and transparent rewards ecosystem. The company's focus on unleashing the benefits of crypto's foundation positions it as an innovator in the loyalty program space.
How much funding has FlyCoin raised?
FlyCoin has raised a total of $33M across 1 funding round:
Angel/Seed
$33M
Angel/Seed (2022): $33M with participation from 8VC, Liquid 2 Ventures, Michael Blend, Josh Jones, Bill Foley, Gaingels, and TenOneTen Ventures
Key Investors in FlyCoin
8VC
8VC is a leading technology investment firm, investing in visionary teams and backing industry-transforming companies. The partners have a proven track-record as founders, engineers, and operators of successful companies including Palantir, Addepar, Affinity and OpenGov, amongst others. 8VC was founded in 2012 and manages $3.6 billion in committed capital. The firm invests primarily in smart enterprise platforms across industries including financial services, healthcare, logistics, Bio-IT, and others.
Liquid 2 Ventures
Liquid 2 Ventures is an investment firm that supports exceptional founders in building lasting companies through experience, community, and capital. They focus on early-stage investments, particularly in the pre-seed and seed stages, and provide access to a vast network of insiders and proven operators. With a median check size of $250k-$500k for early-stage opportunities, they invest across all sectors of technology. Their clients include a diverse range of startups seeking strategic mentorship, funding, and valuable introductions to accelerate growth.
Gaingels
Gaingels is the leading investment syndicate in support of and representing the LGBTQ community and allies in the venture capital space. With over $380,000,000 deployed into a portfolio of over 600 companies since 2014, Gaingels is also the co-founder of Mathison.io and provides an internal at-cost diverse board member/observer recruitment advisory for the company's portfolio companies. Gaingels invests in companies with LGBT founders and C-suite leaders at all stages of growth, as well as in other high-growth companies resolved on building more inclusive teams. Gaingels is a founding co-signer of the Diversity Term Sheet Rider Initiative to increase access to venture funding events for non-traditional check writers, and regularly co-invests with select VC leads across a variety of sectors, from technology, to B2B, healthcare and consumer, in competitive and over-subscribed rounds from Seed to Growth/pre-IPO.
What's next for FlyCoin?
With a major enterprise-level funding context and a recent strategic investment, FlyCoin is poised for significant expansion and development. This capital will likely fuel advancements in its blockchain technology, enhance user acquisition strategies, and potentially forge new partnerships within the travel industry. The company's commitment to decentralization suggests a future focused on building a robust, community-driven rewards platform that offers tangible value and ownership to its users.
See full FlyCoin company page
