CULVER CITY, CA--(Marketwired - Dec 20, 2016) - FlitWays (OTC PINK: FTWS), a Los Angeles-based ground travel technology company, that specializes in ground travel for corporations and travel resellers, today announced that it is raising an additional $1.2 million US in capital for its Series A Financing round following its recent successful exit into the public markets.
Seven hundred thousand dollars ($700,000) has already been secured and received from private investors and the company founder, an additional five hundred thousand dollars ($500,000) in a signed agreement that will be paid over a period of time lasting no longer than 30 days.
FlitWays was founded in 2013 to solve the first/last mile problem for business travelers worldwide. FlitWays created a platform that encompasses rideshares, taxis, executive cars, and shuttles in almost 200 cities around the world. FlitWays solves the problem by creating unique curated mobility solutions for corporations and travel resellers.
After partnering with major organizations like TUI Group, Xerox, Megabus, and many more, FlitWays continues to dominate the B2B segment of the industry by supplying affordable and reliable ground transportation to major travel companies.
FlitWays Founder, Tobi Mac, commented, "FlitWays goal is to empower corporations and travel resellers to provide an experience, a true seamless journey with convenience and affordability. The additional capital will be used to accelerate our growth and innovation, including our on-going international expansion plan to new markets and deliver on our vision around the world."
Recently, FlitWays announced international expansion plans in South America and Southeast Asia that include over 40 new cities with more being added. FlitWays will use the secured capital to focus on growth and expansion to new markets.
FlitWays, a Los Angeles-based travel technology company, offers curated mobility solutions for enterprises and travel resellers, ground transportation in 170 cities around the world -- including rideshares, taxis, black cars, and airport shuttles. Currently servicing over 400 airports with a fleet of over 20,000 vehicles, FlitWays is there to handle all travel ride needs. FlitWays provides security and peace of mind for both business and private travelers with secure booking and all-inclusive rates.
For additional information regarding FlitWays, visit www.FlitWays.com.
Additional information regarding FlitWays Technology, Inc. can also be found in the Company's most recent filings with SEC at www.sec.gov and further Company press releases.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of FlitWays Technology Inc. All statements, other than statements of historical fact included herein are "forward-looking statements," including, but not limited to; the proposed corporate name change; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.