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ANGELS AND EU-NICORNS
Consumers can pay in instalments for almost all big purchases, from mobile phones to cars to furniture, so why not for travel? Global average spend per trip was USD1,020 in 2016, which for many households is a major investment.
Flyto wants people to realise their dreams
While trying to book a GBP1,000 ight to Australia, London-based Raphael Babalola stumbled across an idea which would grow into start-up Flyto. Babalola notes: “Studies show how Millennials would rather spend their money on experiences than things. Instead of that watch
or car, they’d rather go somewhere they’ve never been before, but there is a barrier to that, and that is a ordability.”
Today, the two-year-old start-up builds software that integrates with a travel provider’s website and o ers customers a way to pay for their travel in instalments, while Flyto pays the travel provider upfront. Flyto is backed by Mastercard and Telefonica and is being advised by executives from Sabre and British Airways. Flyto has won the Travel Technology Europe 2017 Disrupt Award.
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