Travel and Rewards Cryptocurrency Company Raises over $33M -Breaking
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Cryptocurrency Company raises over $33M for Travel and RewardsFlyCoin, Inc., an cryptocurrency-based technology company that offers travel rewards, today announced the close of their $33 million seed round. FlyCoin’s revolutionary technology infrastructure provides companies in the consumer loyalty space – including travel and hospitality, insurance and benefits, financial services, and more, with a powerful, turnkey solution to incentivize users in a more customer-centric way. Users can earn FlyCoin’s newly minted token, FLY, reward that appreciates in value, doesn’t expire, is easily transferable, and has an abundance of redemption options.
Josh Jones led the round. He is a pioneer entrepreneur based in Los Angeles and best known for his 2012 creation of Bitcoin Builder. In addition to his role as FlyCoin’s Board Chairman and anchor investor, Mr. Jones will oversee the development of FlyCoin’s technology platform. Other investors in this Seed round include Michael Blend (CEO & Co-Founder of System1), Bill Foley (Chairman of Fidelity National Financial (NYSE:), Dun & Bradstreet, and Cannae Holdings (NYSE :)), TenOneTen Ventures, 8VC Liquid 2 and Gaingels
The travel and reward industry is expected to exceed 1.4 trillion by 2023. It’s high time that smarter rewards are offered to travelers, who are the heart of the industry. FlyCoin, the next generation in digital rewards, is an evolution of a decade-old industry. It is time for digital transformation.
Josh Jones.
FlyCoin’s partners include Ravn Alaska and Northern Pacific Airways (“NP”). Ravn Alaska operates regional flights in Alaska. Flyers can earn FLY by flying with this airline on any paid flight.
“The industry of rewards and benefits, in all verticals, is still a stagnant market. It has not been able to reward customer loyalty as well, up until now.”
FlyCoin’s CEO, Lenny Moon.
FlyCoin helps the crypto industry move forward. Customers are rewarded with cryptocurrency that is not controlled by the issuer. The engaged support of our investors is greatly appreciated. The platform will be rapidly expanded and we are looking for additional partners in order to grow the FLY community.
“At FlyCoin, we’re transforming the loyalty and rewards space with ‘crypto-as-a-service’ and a SaaS solution for easy implementation”
added Tom Hsieh, Co-Founder & President of FlyCoin.
FLY tokens, which are created on blockchain using ERC-20 protocol and have a fixed supply limit of 100 billion. FLY cannot be traded on any cryptocurrency exchanges at the moment. But, FLY plans to start trading on all the major cryptocurrency exchanges starting in 2022.
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