Private jet charter marketplace Victor has gained an US$18m co-investment from BBA Aviation, BP Ventures and existing shareholders to help form the newly-created Alyssum Group.
The formation of Alyssum Group is the beginning of a long-term initiative with backing from strategic players in the aviation industry. Led by Clive Jackson, CEO of Victor and Alyssum Group founder, the group will create a ‘connected’ ecosystem that enables stakeholders across the aviation industry to boost efficiency and maximize profitability by sharing data and business intelligence, and developing a robust set of commercial and business standards that ensures the general aviation sector continues to advance.
The company aims to improve the end-to-end charter quotation, booking and transaction processes between operators and charter brokers, creating greater consistency of charter service and delivery. Alyssum Group will be headquartered in London, UK.
Jackson commented, “Victor’s first fundraising in 2012 was the start of a 10-year plan that has helped the company become the number one consumer brand and underlying e-commerce platform for the general aviation industry, and paved the way for Alyssum Group’s creation.
“I’m excited about facilitating further change across the general aviation industry, as well as working with an expanded team of talented managers and partners for the next phase of our journey.”
BBA Aviation is a global aviation support and aftermarket services provider. BBA’s Signature Flight Support business operates the world’s largest FBO network for business and general aviation users. The investment in Victor will enable it to explore ways to better serve passengers, operators and aircraft owners as well as develop a broader set of partnerships across the business and general aviation industry.
BP Ventures’ further investment reinforces its commitment to identify and invest in private, high-growth, game-changing technology companies, accelerating innovations and supporting the wider BP business.
Mark Johnstone, CEO designate at BBA Aviation, said, “We remain committed to delivering value in business and general aviation, and bringing the best possible service to our many discerning customers. Partnering with Victor and the broader Alyssum team allows us to remain at the forefront of the most cutting-edge digital advances in the industry.”
Akira Kirton, managing director at BP Ventures, added, “This latest investment reinforces our commitment to Victor, and Alyssum Group, as a long-term strategic investor and partner. We are keen to support Alyssum Group in its vision to create a digital marketplace that services the entire private aviation industry, from customers to suppliers.
“The creation of the group further demonstrates our pledge to helping advance early-stage businesses whose technologies complement the wider BP business, while also driving carbon reductions through BP’s Target Neutral program.”