Immfly, a Barcelona, Spain-based provider of in-flight sales and communication within the travel industry, raised 2.4 million euros ($2.67 million) from Caixa Capital Risc. The funding brings Immfly’s total capital raised to 10 million euros ($11.13 million).
Immfly closes a round of investment worth 2.4 million euros with “la Caixa”
Immfly has announced the closure of a round of investment with “la Caixa”, through Caixa Capital Risc, that will enable them to position themselves as a European market leader in the sector of in-flight sales and communication within the travel industry, whilst also allowing the company to continue its international expansion. With the closing of this round of investment the company now counts on a financial capacity of over 10 million euros.
Passengers are entering the mobile world and, according to consultants at Markets and Markets, the global market of in-flight entertainment will double in value, from 2,850 million dollars in 2016 to 5,800 million dollars in 2020. Immfly exemplifies this growth by placing on the market their innovative platform of sales and communications which airlines are able to use to bridge the “in-flight gap”.
The emerging success of Immfly was cemented when its co-founders, Pablo Linz and Jimmy M. Von Korff, closed an agreement with Iberia Express to install the platform throughout their entire fleet. Von Korff and Linz stated that their objective is for Immfly to become “the travel industry’s favourite on-board monetization partner, reaching 100 million connected passengers by 2018”. Von Korff has welcomed the investment: “With the help of Caixa Capital Risc, we are in a strong position to select our preferred long-term partners for our international expansion and the accomplishment of our strategic goals”.
Immfly is leading the development of on-board digital platforms within Europe, helping airlines to strengthen their customer loyalty by increasing their “Net Promoter Scores” amongst passengers and encouraging the creation of new ancillary revenues through the sponsorship and e-commerce available on the platform. Von Korff says: “We leave it to the airlines to decide what they want. We specialise in the creation of this wireless platform and its monetization. In their initial launch Iberia Express wanted a network of in-flight entertainment and sales, and this is what Immfly has delivered”. Immfly’s system is based around four open Wi-Fi points on board, which allow passengers to connect simultaneously. The purchases made on-board are then synched and downloaded upon landing.
The platform gives passengers access to entertainment and e-commerce services in their destination. Immfly has closed agreements with more than 50 media companies, including the BBC, Bloomberg News and the Financial Times. These collaborators allow Immfly to reach a wider, more international public, by providing the product and content in English, Spanish and German. Over 200,000 passengers have used Immfly on over 11,500 of Iberia Express’ commercial flights. This year Immfly hopes to announce new clients within the travel industry.