MisterFly raises Euro 20 million, targets early big revenue numbers

MisterFly, a new online travel agency based in France, has managed to secure a Euro 20 million funding round after just nine months of operations.

The Paris-headquartered business raised the money from Montefiore Investment and Vente-Privee, a French ecommerce retail company.

The investment comes just two months after the company merged with H-Resa, a fellow online travel brand in the country that specialises in hotel bookings.

MisterFly, founded by Nicolas Brumelot (president) and Carlos Da Silva, says the proceeds will be used to “boost growth” and reach Euro 100 million in gross revenue within its first year.

It also plans to make a number of “targeted acquisitions” in both the consumer-facing and B2B travel sector.

Eric Bismuth and Jean-Marc Espalioux, both partners at Montefiore, say:

“MisterFly’s offering, combining price transparency, quality and innovation should attract and retain numerous consumers.”

Da Silva was previously at GoVoyages until 2011 and Brumelot was deputy CEO and chief financial officer at eDreams Odigeo for a year (2012) after co-founding GoVoyages in 1997.

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Kevin May

About the Writer :: Kevin May

Kevin May was a co-founder and member of the editorial team from September 2009 to June 2017.

 

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  1. Timothy O'Neil-Dunne

    Congrats to the Mystifly team. A lot of hard work went into this.
    There is a certain need to enable even more opaque pricing tools into the market.
    Cheers

     
    • Alex

      Can you elaborate for the non insiders, never heard of misterfly before..
      How can they raise so much in 9 months only? The team is Aces apparently but still, thanks

       
      • David Feldsott

        Lola (from Kayak’s CTO, Paul English) raised $19 million without even a live product in the market. So, apparently you only need “Aces” to raise $20 million in funding.

         
      • Timothy O'Neil-Dunne

        Sure – I am familiar with the team. They have been around for about 4 years not 9 months. Internally they have what seems to be a good set of engineers. I cannot attest to the quality of their code. What distinguishes them is that they have people on the team who understand Air Fares and how to manage/manipulate them. They also have in place a solid distribution network. Not many people who can do this. Cheers.

         
      • Kevin May

        Kevin May

        @alex – the pedigree of the founders plays a big in the ability to raise funds of that level so quickly… Both were involved in the GoVoyages brand for many years, so have plenty of experience in sector.

         
        • Alex

          Thanks all, makes sens with the venteprivee partnership & team,
          Yet, knowing a bit about airfares margins, it s a very good valuation sales because except from selling at 0 margin or sponsored, don’t see too much leverage.
          Maybe there are some volume buying or else..
          Really not impressed by the product (just a meta search?) so far.
          Let’see where they go from here..

           
 
 

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