Private aviation firm VistaJet has received $150 million in funding from Rhône Capital valuing the company at $2.5 billion. With its latest investment, Rhône Capital has pumped $200 million into VistaJet.
“With the investment announced [August 23rd], the equity valuation in excess of $2.5 billion and our fully scalable technology driven business model, VistaJet is ideally placed to take advantage of the opportunities to shape the market as it further develops in the years to come,” said VistaJet’s founder and Chairman Thomas Flohr.
VistaJet is a private jet charter that operates a subscription on-demand service. Through the VistaJet direct app, members can book a private jet for which they are charged a per-hour rate for each flight.
VistaJet is part of a new wave of private jet charters that eschew the fractional jet ownership model for an asset-free on-demand service that allows members to book private jets quickly online or through an app. VistaJet has shown incredible growth with net-profit up 32% year-over-year and revenue up 63%.
VistaJet’s fleet is comprised of over 70 private jets, mainly Bombardier Challenger models and Global 5000s and 6000s.
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