Flapper secures Series A extension funding to expand technology and launch fractional aircraft management program

Flapper, a leading on-demand private aviation company, announced it has raised an undisclosed amount of funding as part of its Series A extension. All existing late-stage investors contributed, including the private-equity fund DXA, the VC fund Confrapar, the alternative investments fund Arien Invest, and investment vehicles IVC and SMU, according Previously, Flapper had raised Seed capital from the aerospace fund Aerotec, ACE Ventures, and individual angel investors.

According to Paul Malicki, Flapper’s CEO, the new funds will be allocated to technology improvements and potential M&As. As part of its vertical expansion, the company plans to direct resources to a fractional management program, allowing existing and future aircraft owners to buy shares in selected jets and turboprops that Flapper intends to operate indirectly.

Paul Malicki stated, "Following successful regional expansion, Flapper is now focused on strengthening its leadership position with innovative aircraft management programs created in collaboration with air carriers within its network. We are dedicated to delivering a full spectrum of business aviation services to all stakeholders through our innovative asset-light marketplace platform, which includes air charter, crowdsourced flights, aircraft sales, and soon-to-be-introduced aircraft management services."

Using its mobile app, Flapper customers can currently quote one of 2,500 safety-vetted aircraft available for charter on its marketplace or buy individual seats on pre-scheduled flights. The company's proprietary quotation system can estimate the cost of a charter flight and arrange it in less than two hours. Among the so-called "Flapper Specials" are helicopter transfers offered on a per-seat basis for events such as motorsport and music festivals, as well as numerous available empty legs in Latin America and Europe.

The company also emphasizes its commitment to greener operations. To catalyze the entry of all-electric aircraft to urban and regional air mobility, it has signed letters of intent with several OEMs, including conventional fixed-wing concepts (MagniX) and eVTOL/eSTOL programs, such as Electra, Jaunt Mobility, and Eve Mobility, an Embraer spin-off. Flapper’s CEO sits on the advisory boards of both Eve and Supernal.

Flapper's revenues grew by 38% year-on-year in Q1 2024, alongside a 50% decrease in costs. The company turned a profit in that quarter and now boasts 400,000 mobile app users. It has a local presence in the US, Europe, Argentina, Brazil, Chile, Colombia, and Mexico, and operates in the Middle East and India through its network of associates.

Flapper estimates that the current market size of the air charter sector oscillates around $10 billion. The company argues that the future electrification of aviation can triple the size of the general aviation sector, offering access to new and previously abandoned routes and landing spots, promising a cheaper, environmentally friendly, and virtually noise-free alternative to existing modes of transportation.