Jay-Z backed JetSmarter raises $105 million in funding to become Uber of skies

JetSmarter, a US based Startup has recently raised $105 million in funding. Backed by Jay-Z the Startup allows travelers to book a seat on a private jet through the company’s JetShuttle service. It also allows travellers to charter an entire plane.

The funding will be used for  for global expansion of JetSmarter in Asia and Latin America along with increasing the number of routes and flights available to JetSmarter members in the U.S.

How JetSmarter works?

Anyone can download and evaluate JetSmarter app. Before flying JetSmarter, the members go through a light background check. Thereafter they pay $15,000 for a “core membership” in the first year they join. It enables the members to get a seat on a wide selection of flights “free”. However, they have to pay for companion tickets if they want to bring someone who is a non-member along.

Currently, JetSmarter connects travelers to flights in 50 markets around the world, including New York, Las Vegas, Atlanta, London, Paris, Moscow, Dubai, among other top destinations.

Being a Software/App based business,JetSmarter is often considered as the Uber of skies. The company is planning to provide on demand services in certain locations with price as low as $1 per mile. JetSmarter has been able to “Outsmart” other similar service providers like Blackjet operating in the region.

 

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