FairFly rebrands as Oversee, adds Rapyd CEO Shtilman to board
FairFly rebrands as Oversee, adds Rapyd CEO Shtilman to board
The company said that after signing a strategic cooperation deal last year with global travel company BCD Travel, estimated at $10-15 million per year, it also tripled its number of customers
Israeli startup FairFly, which developed software that allows companies to monitor and reduce the flight and accommodation costs of their employees, has appointed Arik Shtilman, co-founder and CEO of the fintech company Rapyd, to the company's board of directors. Additionally, the company is undergoing a rebranding process and changing its name to Oversee.
The company stated that after signing a strategic cooperation deal last year with global travel company BCD Travel, estimated at $10-15 million per year, it also tripled its number of customers and secured deals with dozens of other companies.
FairFly/Oversee was founded in 2015 by Aviel Siman-Tov, Ami Goldenberg, and Gili Lichtman as part of the Zell program for entrepreneurship at Reichman University in Herzliya. The company has raised $18 million to date, employs 35 people, and has offices in Israel, the U.S., England, and Poland.
FairFly's Air Price Assurance technology predicts changes in airline ticket prices after they have been ordered, and following a significant price drop re-orders the same airline ticket automatically.
"During the Coronavirus pandemic, our market suffered a significant shock, and despite this, with the help of our team, we quickly adapted the product. As a result, customers derived significant value from our platform even when there were no actual trips," Siman-Tov told Calcalist.
"In the last six months, we have doubled our revenues, and we expect to triple them in the coming year. We are changing the name of the company and updating our vision to a much broader one. We are confident that the addition of Arik Shtilman, who brings years of experience and extensive knowledge as a serial entrepreneur, will help us at this stage of growth and enable us to achieve new goals."
