NEW YORK, June 2, 2020 /PRNewswire/ -- MySky, the only
AI-powered spend management platform designed for the private
aviation industry, today announced the closing of a $5 million capital raise led by GMF Capital, with
participation from Global Trading Group. The investment will enable
the expansion of MySky's operations and technology into the
Americas under the direction of the new Head of Americas Jean De
Looz. Since its launch in 2016, MySky has experienced rapid success
in Europe, reporting 60% growth in
the first quarter of 2020. With offices in Geneva, London, and Moscow, and a new office in New York, MySky is pleased to officially
introduce its platform to the Americas.
For years, the private jet industry has lacked financial
consistency and transparency, causing widespread confusion,
inefficiencies, and avoidable costs. As economic uncertainties
abound due to COVID-19, it has become increasingly important for
the industry to standardize prices and establish order. MySky, the
only spend management platform designed for the private aviation
industry, solves this problem with proprietary IT tools,
cutting-edge artificial intelligence, optical character recognition
and machine learning (ML). This industry-leading platform provides
private jet owners, operators, and consultants with the tools
needed to optimize time and improve procurement and expense
management, offering more control and visibility on how money is
spent. The company's unique position as an independent, third-party
player has established it as a trusted partner for all industry
stakeholders.
"At MySky, we are committed to making a positive change in the
highly unregulated private jet industry," said Christopher Marich, co-founder and global
strategy director of MySky. "As we approach a market downturn due
to recent world events, we are able provide our clients with the
tools they need to manage their assets more effectively. Our
successful ramp up in Europe made
clear that owners and operators see immense value in our product,
and we are excited to introduce our platform to the North American
market."
The funding round was led by New York
City-based GMF Capital, a leading private investment
management platform for private equity, real estate and alternative
investments.
"The MySky platform brings unique value to the private aviation
industry, and will undoubtedly improve the way owners and operators
manage their private jets and fleets," said Gary Fegel, founder of GMF Capital, who is also
joining MySky's Board of Directors to assist with the company's
strategic planning. "GMF chose to invest in MySky because we
believe in the company's mission to bring financial transparency
and order to the jet industry, and are confident that MySky will be
just as successful in the Americas as it has been in Europe and the CIS region."
Additional funding come from Global Trading Group.
"MySky is a clear game-changer for stakeholders in today's
aviation industry, and we are proud to support its mission to bring
order and consistency to a space that remains largely unregulated,"
said Global Trading Group Principal Kamil
Kasumov.
During this pivotal moment, MySky is also welcoming De Looz as
Head of the Americas. De Looz will apply his expertise in selling
and managing private aviation services to spearhead MySky's growth
in the Americas, with a particular focus on the U.S.
A seasoned sales and operations executive with more than 14
years of experience in the business aviation industry, De Looz has
a wide scope of expertise spanning flight operations, aircraft
charter sales, OEM aircraft sales, and asset management. De Looz's
leadership skills are further elevated by his experience as a
commercial aviator and instructor pilot.
"I am excited to be joining this innovative and much-needed
company during a time of pivotal growth as well as a period where
spend management has become a necessary tool during the economic
downturn," said De Looz. "MySky is a pioneer for change in the
private aviation industry and I look forward to working with the
team to infiltrate the Americas' market, and make a long-lasting
impact."
To learn more about MySky, visit https://mysky.com/.
About MySky
MySky is the only spend management
platform developed for the private aviation industry. Using AI,
optical character recognition, and machine learning, MySky brings
standardization and transparency to an unregulated industry. The
platform, a proprietary financial management solution, helps to
decrease costs and optimize time for private jet owners, operators
and consultants. Active for more than 5 years and servicing more
than 350 aircraft worldwide, MySky operates as an independent,
third-party player and offers the largest cost database in the
industry. The company is headquartered in Switzerland and is active in Europe, the Americas and the CIS. For more
information, please visit https://mysky.com/.
About GMF Capital
GMF Capital is a privately-owned
alternative investment company founded and led by Gary Fegel. Prior to this Mr. Fegel was a
Senior Partner at Glencore Plc., one of the world's largest
commodity trading and mining companies where he was responsible for
the global aluminum business. For more information, please visit
http://www.gmfcapital.com
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SOURCE MySky