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Flymoney has raised $1.0M across 1 funding round.
Key people at Flymoney.
Flymoney has raised $1.0M in total across 1 funding round.
Based in Tel Aviv, Israel, Flymoney provides a plug-and-play currency exchange platform that enables international travelers to pre-order foreign currency through airlines and online travel agencies. Operating as a licensed money services business, the company allows users to exchange up to 30 different currencies during the booking process and collect the cash at designated airport desks upon departure or arrival. The financial technology firm maintains a network integrated with 20 airlines and travel agencies, facilitating physical currency pickup across 56 airports worldwide. Employing fewer than 25 workers and generating under $5 million in annual revenue, the enterprise utilizes a business-to-business-to-consumer revenue-sharing model while also marketing directly to consumers through platforms like Google and Facebook. Backed by travel industry investor Phocuswright, Flymoney was founded in 2015 by Tal Ekroni, Ben Aviram, and Gilad Shlang.
Flymoney has raised $1.0M across 1 funding round. Most recently, it raised $1.0M Seed in December 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2018 | $1M Seed | — | Biel Investments | Announced |
Flymoney has raised $1.0M in total across 1 funding round.
Flymoney's investors include Biel Investments.
Key people at Flymoney.
Fly Money is a Tel Aviv-based fintech startup that provides a regulated Money Service Business solution for currency exchange tailored to airlines and online travel agencies (OTAs). It offers a customizable travel money order widget, a robust transaction processing platform, and guaranteed hand delivery of orders, solving the friction of foreign exchange for international travelers in a $720B in-destination shopping market affecting 1.2B travelers annually.[1][2] The company serves B2B partners like OTAs, airlines, and financial institutions through revenue-sharing models, while also targeting consumers directly via low-cost digital marketing, achieving 18% visitor-to-customer conversion and low customer acquisition costs (CPA).[2]
Fly Money was co-founded by Tal Ekroni (CEO), Ben Aviram, and Gilad Shlang, with Ekroni bringing 12 years of entrepreneurship in financial services, including prior startups, academic lecturing in finance, and expertise in financial literacy.[2] The idea emerged to bridge financial behavioral gaps for travelers via a transparent digital experience, addressing currency fragmentation from 150 new local payment methods (e.g., mobile wallets, prepaid cards) that create barriers for inbound/outbound tourists.[2] Early traction included $1.4M in funding from well-known business angels and recognition as an emerging company at the 2019 Phocuswright Conference, where it pitched its white-label system connecting travel sites to forex providers for lower rates and time savings.[2][4]
Fly Money rides the wave of fintech innovation in travel, capitalizing on rising international tourism and payment fragmentation amid 150+ new local methods that hinder seamless spending.[2] Timing aligns with post-pandemic travel recovery and digital payment shifts, where traditional channels like airport exchanges fail 1.2B annual travelers in a $720B market.[2] It influences the ecosystem by enabling OTAs and airlines to cross-sell forex effortlessly, boosting engagement and revenue while promoting financial literacy through transparent tools.[1][2]
Fly Money is poised for expansion in the booming travel fintech space, potentially scaling partnerships amid sustained tourism growth and AI-driven personalization in payments. Trends like embedded finance and real-time currency APIs will amplify its model, evolving it from a niche solver to a broader travel commerce enabler—building on its strong early metrics to capture more of the fragmented global forex market.[2] This positions it as a key player bridging digital travel and money management.
