Victor Raises $18M for Charter Industry Venture

 - February 1, 2018, 11:18 AM

Online private jet charter marketplace Victor has received an $18 million co-investment from BBA Aviation, BP Ventures and existing shareholders to form the newly created Alyssum Group. To be led by Victor founder and CEO Clive Jackson, the new entity is a long-term initiative to create an ecosystem enabling business aviation industry stakeholders to boost efficiency and profitability by sharing data and business intelligence. It will also develop a set of commercial and business standards for general aviation.

Through its affiliation with Victor, Alyssum Group aims to improve the end-to-end charter quotation, booking, and transction processes between operators and charter brokers, creating greater consistency of charter service and delivery. BBA, which owns Signature Flight Support, said the investment will enable it to explore new ways to better serve passengers, operators and aircraft owners, as well as develop a broader set of partnerships across the business/general aviation industry.

BP’s latest move comes just four months after investing $10 million in Victor to become the preferred fuel supplier for flights arranged through its charter-booking platform. Its further investment “reinforces its commitment to identify and invest in private, high-growth, game-changing technology companies.”

According to Jackson, “The Alyssum Group is well positioned to promote further, positive change across the industry in 2018. The group will take the first significant steps of its acquisitive strategy over the coming weeks and months, creating a full-spectrum digital marketplace that services customers through to suppliers and promotes a more ‘joined up’ approach the industry that benefits all."

Meanwhile, lead Alyssum Group brand Victor is focusing on further B2C expansion in North America, he said. In the fall, Victor expanded its Manhattan base to support growth in this region, which saw business triple in the January to June time frame last year.