Dux Capital invests US$31K in Refly

Refly is a Mexican flight ticket resale app that allows users to sell their unused flights to others and recoup up to 80% of the cost. The investment comes after Refly appeared on an episode of Shark Tank Mexico, run by Dux Capital‘s Managing Partner, Marcus Dantus. Dux Capital is the investment arm of accelerator Startup Mexico. Refly will use the US$31K (MX$600K) investment to improve its technology and to expand into the European market, says founder Raymond Zeitouni.

Raymond’s goal is to reach the European market by 2019 and to start offering hotel rooms on the platform. The founders were willing to part with 15% equity in their company in exchange for strategic contacts from the judges on Shark Tank.

Marcus Dantus thinks Refly could become Mexico’s first unicorn:

“When they are doing is very innovative, and while airlines still allow people to change the names on tickets, it’s perfect.”

Refly is currently improving its platform and registration process so it can stay competitive when it hits the global market.

Read more about Refly in LAVCA or Expansión.

Listen to Marcus Dantus on the Crossing Borders podcast.

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