News Release

Leading on-demand jet charter marketplace Victor raises $18m from BBA Aviation, BP Ventures and existing shareholders

Leading private jet charter marketplace leader Victor today announced an $18m co-investment from BBA Aviation, BP Ventures and existing shareholders to help form the newly-created Alyssum Group.

The formation of Alyssum Group is the beginning of a significant, long-term initiative with backing from key strategic players in the aviation industry. Led by Clive Jackson, who entered the private jet charter market with Victor in 2011, the group will create a 'connected' ecosystem enabling stakeholders across the aviation industry to boost efficiency and maximise profitability by sharing data and business intelligence, and developing a robust set of commercial and business standards that ensures the general aviation sector continue to advance.

Booking transparency, underpinned by smart technology and 'high touch' customer service, have been at Victor's industry disrupting core since its launch. Disclosing operator tail numbers and capped booking fees has enabled the company to build customer trust and become a leading provider of on-demand jet charter. The same ethos of transparency will underpin Alyssum Group. In connecting proven, forward-thinking industry players willing to support change, the company aims to improve the end-to-end charter quotation, booking and transction processes between operators and charter re-sellers (brokers) and, in doing so, create greater consistency of charter service and delivery.

BBA Aviation (market cap value $3.73bn) is a market leading, global aviation support and aftermarket services provider. BBA's Signature Flight Support business operates the world's largest fixed base operation network for business and general aviation users, and the investment in Victor will enable it to explore cutting edge ways to better serve passengers, operators and aircraft owners as well as develop a broader set of partnerships across the business and general aviation industry.

BP Ventures' further investment reinforces its commitment to identify and invest in private, high-growth, game-changing technology companies, accelerating cutting edge innovations and supporting the wider BP business.

Clive Jackson, Alyssum Group, founder and CEO, said: “Victor's first fundraising in 2012, was the start of a 10-year plan that has helped the company become the number one consumer brand and underlying e-commerce platform for the general aviation industry, and paved the way for Alyssum Group's creation. I'm excited about facilitating further change across the general aviation industry, as well as working with an expanded team of talented managers and partners for the next phase of our journey.”

Mark Johnstone, BBA Aviation, CEO designate, said: “We remain committed to delivering value in business and general aviation, and bringing the best possible service to our many discerning customers. Partnering with Victor and the broader Alyssum team allows us to remain at the forefront of the most cutting edge digital advances in the industry.”

Akira Kirton, BP Ventures, managing director, said: “This latest investment reinforces our commitment to Victor and Alyssum Group as a long-term strategic investor and partner. We are keen to support Alyssum Group in its vision to create a digital marketplace that services the entire private aviation industry, from customers to suppliers. The creation of the group further demonstrates our pledge to helping advance early-stage businesses whose technologies complement the wider BP business, whilst also driving carbon reductions through BP's Target Neutral programme.”

Alyssum Group will be headquartered in London, alongside the head office of its lead brand Victor.