Listen to this articleBelow is our recent interview with Emma Gavala, Product Marketing Manager at Flyway:
Q: What is the story behind Flyway?
A: Owning a pied-à-terre in a city you regularly visit is unnecessarily difficult. You end up wasting money on rentals and hotels, since buying a whole property is simply not affordable. We created Flyway to change that. You can now co-own a second home, in your favorite city, at a fraction of the price. We are starting from London, with more cities coming up soon. A share of 1/12 gives you up to 30 days of stay annually in your city home. Want more? You can buy more shares! You own the asset, not a block of time.
Flyway modernizes the generations-old practice of co-owning a second home, creating a marketplace that makes buying and selling of shares easy. Meanwhile, adding professional management of the property and technology (scheduling algorithm) to make owning and staying in the home seamless and straightforward for all co-owners. Owners access everything about their second home via the Flyway App, including booking stays seamlessly, overseeing expenses shared with other co-owners, chatting with their Home Manager, and even unlocking their home from their phone.
Q: Any highlights on your recent announcement?
A: Flyway raised $10 million in seed and debt funding from a number of institutional and Angel investors. Proceeds from the round will be used to acquire and sell Flyway’s first properties in London. Flyway is led by serial founders with a previous exit, Nikos Drandakis and Sanja Ilic, former CEO/Founder and COO respectively, of Beat, a ride-hailing app that Daimler acquired, having reached $700 million in annual revenue.
Ownership of a pied-à-terre is now much more accessible since buyers can purchase anywhere from one-twelfth to half of the home, depending on their occupancy needs. It dramatically reduces the hassle of owning a property away from your primary residence. And not just any property, but prime real estate. Still on your budget. Note that you can re-sell your shares anytime, through Flyway’s marketplace or in the open market, without consensus needed among owners.
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Q: Can you give us more insights into your offering?
A: Here is a glimpse of life as a Flyway Owner:
What you get
We offer frequent city travellers an alternative to entire home ownership, hotels and rentals in big cities around the world. You can now invest and own a portion of a second home that is suited to your budget and stay needs. Then, proportionately benefit from the use of the property, while splitting costs and payments with other co-owners.
How it works
We identify top-notch properties in top downtown locations. Our homes are new, luxury builds or properties that we assign to internationally-acclaimed architects and interior designers. We set up an LTD (Limited Liability Company) with 12 shares that acquires the property. Each share costs 1/12 of the total house price and gives the owner up to 30 nights of use. Note that all properties are fully-managed by us. Everything from cleaning to repairs and maintenance is taken care of by us so that you simply land and enjoy your second home, with none of the worries.
What you experience
You are not a tourist or a ‘guest’ anymore. You are a second home owner. This is your pied-à-terre and you are a temporary resident in the city you visit often. You can leave your personal belongings and find them where you left them. You will get your unique access code to all smart devices, from a high-tech mattress that measures your biometrics to a coffee brewer controlled by your phone. Co-owning a Flyway is your getaway to upgraded city living in an asset you own.
Q: What can we expect from your company in next 6 months? What are your plans?
A: Most importantly, three ready-to-live in properties:
- An iconically designed second home in Mayfair
- A high-rise property with skyline views where The City meets Shoreditch (with a Free Trial Stay option already available)
- An upcoming legendary residence in a 5* luxury build (we’ve kept quiet, but it’s in progress 🤫)
Our top priority is to offer an unparalleled experience to the first customers that have already signed up and the upcoming owners who will buy shares in our homes, such that will create the basis for word-of-mouth dynamics and customer testimonials.
In parallel, we are further building our operations machine that provides our customers with a seamless experience from the sale to the stay in their Flyway home.
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Q: What is the best thing about your company that people might not know about?
A: 2 things!
First, one of our flagship second homes in Mayfair is designed by the legendary industrial designer Karim Rashid. We are super proud of our collaboration and excited that we can offer this top-notch interior design experience to Flyway Owners.
Secondly, all Flyway properties are supercharged with the latest in home automation and wellness devices, that inspire you to live your best life. Some examples include:
– Eight Sleep mattress — the only sleep technology that dynamically cools and heats each side of the bed, to maintain the optimal sleeping temperature for what your body needs, while gathering vital biometric information on your health as you sleep.
– SONOS sound systems in all rooms of your homes, connected to all your devices for the most immersive experience as you watch your favourites movies or listen to your music and podcasts.
– Philips Hue Lights creating a unique ambiance in each and every room of your home according to the time of the day, your mood and desired activities.
– TOTO Washlet — the world’s leading high-tech luxury washlet, to boost even your hygiene during your stays. A toilet with even a museum dedicated to its history and technology, brought from Japan to your second home.
– Keyless Access — you can unlock your second home simply by your mobile phone. No outdated keys, just a slide with your fingers!
We have built these homes exactly as we would like to experience them if we lived in them, so everything is catered to the smallest detail. They are not just impersonal luxury properties — they are full of tasteful touches and smart technology to make each and every stay of yours memorable! After all, we want you to be a part-time resident in the city you love. Not a tourist.
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