• FLYR, a travel technology company, has raised $295 million to accelerate the development and deployment of its advanced solutions, with WestCap leading the funding round.
• The Series D round brought in $225 million, with an additional $70 million secured through a credit facility arranged by Vista Credit Partners, bringing FLYR’s total capital raised to over $500 million.
• FLYR plans to use the funding to scale its operations and speed up the rollout of modern reservation systems, crucial for the digital infrastructure of airlines and other travel providers.

FLYR, a tech company specializing in the travel industry, has raised USD 295 million to accelerate the development of its advanced solutions.

The funding round was led by WestCap and included contributions from BlackRock, Streamlined Ventures, and a subsidiary of the Abu Dhabi Investment Authority (ADIA). Avianca, a long-time FLYR customer and South American airline, also participated in this round.

The Series D funding round brought in $225 million, supplemented by a $70 million credit facility arranged by Vista Credit Partners.

The company highlighted that the travel industry, which the World Travel & Tourism Council predicts will account for nearly 12% of global GDP within the next decade, is primed for innovation. However, the industry’s dependence on outdated systems continues to hinder its ability to meet the growing demand for seamless customer experiences, according to the company.

Utilizing artificial intelligence (AI), FLYR provides travel businesses with tools to boost revenue, reduce costs, and modernize reservation systems.

The company’s modular approach and use of open standards, including IATA’s New Distribution Capability (NDC) and ONE Order, allow airlines and hotels to overcome legacy constraints and manage data while integrating with various technology systems.

FLYR plans to leverage the new funding to expand its operations and expedite the deployment of modern reservation systems, which are essential to the digital infrastructure of airlines.

Several travel companies, including Avianca, JetBlue, Air New Zealand, Virgin Atlantic, and Best Western Scandinavia, rely on FLYR’s solutions.

WestCap’s managing partner and founder, Laurence Tosi, who has experience in scaling leading companies such as Airbnb and Blackstone, played a key role in this funding initiative.

FLYR’s founder and CEO, Alex Mans, stated: “We have been dedicated to reimagining the travel experience since inception. As the world around us continues to advance, travel has remained in the past, reliant on an oligopoly of archaic technology vendors with misaligned incentives.

With this latest investment, FLYR’s total capital raised now exceeds $500 million.