The Jay Z-backed company JetSmarter, billed as the “Uber for private jets,” has raised $105 million USD in series C funding. As TechCrunch reports, JetSmarter is currently standing at a $1.5 billion USD pre-money valuation and the $105 million USD the company has raised will be used to expand into Asian and Latin American markets. JetSmarter CEO and founder Sergey Petrossov also says the recent funds the company has brought in will be used to “increase the number of routes and flights” available to U.S.-based users of the service. JetSmarter allows for its customers to book single seats on private jets or charter an entire private jet. In the recent fundraising drives, Jay Z, individuals belonging to the Saudi royal family, and others have “increased their investments” in the company.
You can read TechCrunch’s full report on the news here.