Olgiet AircraftThe first online marketplace built to buy used buses has raised € millions of seed funds to expand its team across Europe, to increase its team and improve the auction platform.
The round was led by Amsterdam-based DFF Venture with the participation of Silence VC, FJ Labs and Angel Investor Jack Greek (ACV auction). It first identifies for DFF’s second investment in Italy and first for Silence and FJ.
“We have been on this earth for 13 years“The co-founder said PhilippoThe “We know the players, we know the pain points and we know how much the current system can lose. We’ve created flying to change it. We didn’t say 90% of the bus to the busco because we had no scleble way for us to re -sale. Now, we can tell them yes to all of themThe “
Founded by Bataglia brothers in Philippo and Federico Bataglia, fiid was created to solve the problems of the commercial vehicles for passenger transport and seek simplicity, speed and transparency.
According to the statistics provided by the flyoid, the bus re -sale market is surprisingly large, only in Europe transforms hands on more than 100,000 buses every year. Nevertheless, according to the organization, the process remains slow, fragmented and offline.
Buses usually move to the south in northern Europe and change the owners three to four times during their lifetime. Countries like Italy, Poland, Germany and Spain depend a lot on these vehicles, including powerful tourism sectors and large rural areas. However, despite the market size, the process of selling buses is still stuck in the past – according to flyoid.
Most owners do not know how to sell or sell them. Instead, they go directly to the brokers: the middleman who works on an opaque system full of hidden marks-ups. After working for more than a decade in their family bus trading company Basco, the two founding brothers saw the opportunity to bring speed and confidence in an industry that both needed.
Flyoids replace the deals and long email chains with a single platform where vendors can listen to their vehicles and buyers can compete at the open online auction. Each bus comes with a complete doser: photos, videos, condition reports, technical inspections, all are verified by the Flymed team.
Once there is an agreement, the flyer takes care of the entire transaction from the Flyoid payment to the transfer and transportation.
In the first months of it, Flyoid sold several hundred buses. Buyers put bids in main EU markets like Ghana, Romania and Iraq from Italy, Poland and Bulgaria.
“We look for sharp founders by dealing with big problems in lower-out markets,“Said Marten AnglenePartner in the DFF. “Bataglia brothers have done this with the interior who decided to disrupt their own industry and they did it with the kind of death sentence and mourning it. Flyoid buses are not a better way to trade. This is the beginning of a new operating system for the entire sectorThe “
With the financing of this new round, flying plans to accelerate its rollout across Europe, more technology develops, so that companies can trade buses with the speed of clicking ‘Buy Now’.
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