Led by GMF Capital, the funding will help bring order to unregulated private aviation on an international scale as MySky enters the North American Market
MySky, the only AI-powered spend management platform designed for the private aviation industry, announced the closing of a $5 million capital raise led by GMF Capital, with participation from Global Trading Group. The investment will enable the expansion of MySky’s operations and technology into the Americas under the direction of the new Head of Americas Jean De Looz. Since its launch in 2016, MySky has experienced rapid success in Europe, reporting 60% growth in the first quarter of 2020. With offices in Geneva, London, and Moscow, and a new office in New York, MySky is pleased to officially introduce its platform to the Americas.
Read More: GlobalFintechSeries Interview with Ashish Singhal, CEO and Co-Founder at CRUXPay
For years, the private jet industry has lacked financial consistency and transparency, causing widespread confusion, inefficiencies, and avoidable costs. As economic uncertainties abound due to COVID-19, it has become increasingly important for the industry to standardize prices and establish order. MySky, the only spend management platform designed for the private aviation industry, solves this problem with proprietary IT tools, cutting-edge artificial intelligence, optical character recognition and machine learning (ML). This industry-leading platform provides private jet owners, operators, and consultants with the tools needed to optimize time and improve procurement and expense management, offering more control and visibility on how money is spent. The company’s unique position as an independent, third-party player has established it as a trusted partner for all industry stakeholders.
“At MySky, we are committed to making a positive change in the highly unregulated private jet industry,” said Christopher Marich, co-founder and global strategy director of MySky. “As we approach a market downturn due to recent world events, we are able to provide our clients with the tools they need to manage their assets more effectively. Our successful ramp-up in Europe made clear that owners and operators see immense value in our product, and we are excited to introduce our platform to the North American market.”
