Hot 25 Travel Startups for 2023: Flycoin

Flycoin

Headquarters: Los Angeles

CEO: Lenny Moon

Website: Flycoin

Founding date: 2021

Investment: $33.2 million

Flycoin represents the evolution of loyalty programs; the company has applied the principles of cryptocurrency and blockchain to create a new kind of loyalty program that is free from the limitations of today’s programs. Flycoin’s revolutionary technology infrastructure provides companies in the consumer loyalty space, including travel and hospitality, financial services and more, with a powerful turnkey solution to incentivize users in a more customer-centric way.

PhocusWire coverage:

• Crypto-based travel rewards startup Flycoin raises $33M

Founders: CEO Lenny Moon, President Tom Hsieh, Board Chair Josh Jones

Strategic goals for 2023

One of our strategic priorities in 2023 is to continue to build and expand the Flycoin ecosystem through additional corporate partnerships, so FLY can be more easily earned, redeemed and distributed to a global base of end-users.

Lessons learned since founding

The economic environment, travel sector and Web 3 industries have experienced quite a bit of disruption over the past two and a half years. Some of this disruption has helped bring to the surface important issues that need special attention and focus, but some of this disruption has also created a lot of unnecessary noise. Furthermore, navigating a growth plan within the travel tech and crypto space where the regulatory environment is still firming up, has entailed an even greater level of nimbleness and flexibility as a startup. Amid this frenzied environment, we are learning (and still learning) what to filter out as unnecessary, what is still informative but not critical and which aspects of our vision need to be held onto and maintained.

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