BP has announced an initial investment
and the creation of a strategic partnership between its BP Ventures and Air
BP businesses with Victor, one of the world’s leading ‘on-demand’
marketplaces for private jet charters.
As part of the partnership, BP Ventures has committed to investing $10m in
Victor. In addition, Air BP has entered into a commercial agreement to
become the preferred fuel supplier for flights arranged via the Victor
digital platform at Air BP locations.
This investment is part of BP Ventures strategy to invest to accelerate the
development, commercial viability and deployment of digital technologies and
offers across the BP group. Air BP, which has a growing digital presence,
stands to further benefit from this new collaboration.
Victor launched in 2011, providing quick, easy and efficient ‘on demand’ jet
charter booking services for flyers by connecting them with business and
private jet operators using a proprietary digital platform underpinning its
sales, marketing and customer service functions. This smart, data-driven
platform, and a uniquely transparent customer proposition, has enabled it to
operate more efficiently - at a lower cost than many traditional charter
brokers. Victor’s customer-friendly mix of ‘hi-tech and high touch’ has also
delivered 946% revenue growth over recent years. Victor has helped drive the
transformation of private jet chartering.
Through its cooperation with Air BP, Victor will continue to innovate and
develop its core digital platform. This will allow operators to participate
in a more streamlined charter quote, booking and settlement process. Victor
will also trial an initiative giving customers the chance to offset carbon
emissions from their Victor-booked flights via BP Target Neutral.
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(L-R): Jonathan Wood, chief
business development officer Air BP; Clive Jackson, CEO & founder of
Victor and Akira Kirto, managing director BP Ventures | Photo:
Victor. |
David Gilmour,
Vice President of BP’s group technology business development said: “Digital
technologies are changing the way customers and corporates access services
across multiple industries. This is now BP Ventures fifth deal in less than
a year – following Fulcrum Bioenergy, Drover, BiSN and most recently Beyond
Limits - and demonstrates our commitment to helping advance the development
of cutting edge technologies by partnering with innovative industry
disrupters, whose technologies are complementary to the wider BP business.”
Jon Platt,
Chief Executive Officer for Air BP, said: “Digital technologies are playing
a vital role in transforming the business aviation sector. This
collaboration brings Air BP together with a leader in this emerging space in
the industry, combining strengths and capabilities to support our customers
as they work towards a lower carbon future.”
Clive Jackson,
CEO & founder of Victor, added: “I am proud to welcome BP Ventures as a
strategic, cornerstone investor. Their track-record for identifying
forward-thinking businesses that can deliver sustained growth speaks for
itself. Receiving backing from a major, legitimate institutional investor
like BP is strong endorsement of our management team and our strategic
vision to reshape the general aviation market. This is a hugely exciting
step forward in the company’s evolution.”
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Photo: Victor |
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