Maldivian Carrier BeOnd Aims to Raise $25 Million in Series A Round for Rapid Expansion

BeOnd (B4), the up-and-coming Maldivian carrier, is set to raise $25 million in a series A funding round to fuel its ambitious growth plans. Following a successful pre-series A round, the airline is gearing up for further expansion, including scaling its workforce, boosting sales and marketing efforts, and securing additional capacity.

Key Points:

1. Capital Raising Goals: BeOnd aims to secure $25 million in its series A funding round, building on the momentum of a recently concluded $13 million pre-series A round. The funds will be instrumental in supporting the airline’s growth initiatives.
2. Successful Pre-Series A Round: BeOnd recently closed a pre-series A funding round, which garnered significant interest. The airline anticipates even more enthusiasm for the upcoming series A round, signaling strong investor confidence in its unique approach to leisure travel.
3. Utilization of Funds: The raised capital will be allocated towards expanding the workforce, intensifying sales and marketing activities, and acquiring additional capacity. BeOnd envisions a fleet of 32 state-of-the-art and luxurious aircraft within the next five years.
4. Premium Leisure Experience: BeOnd distinguishes itself as a premium leisure carrier, emphasizing a lightweight, low-cost operational model. The airline operates a specially configured A319-100 with a capacity of 44 passengers, offering a distinctive travel experience.
5. Current Route Operations: BeOnd initiated its revenue services with flights between Munich and Malé, expanding its network with routes such as Malé – Riyadh – Munich and Malé – Riyadh – Zurich. Future plans include launching flights to Dubai World Central and Milan Malpensa in March 2024.
6. Customer Response: Despite being a newcomer, BeOnd expresses satisfaction with the positive response from customers during its initial operations. The airline’s commitment to nonstop flights between Europe and Malé positions it as a compelling alternative to established operators.
7. Market Potential: BeOnd’s Chairman and CEO, Tero Taskila, highlights extensive support for the carrier’s “ground-breaking approach to leisure travel” and sees promising market potential. The airline aims to explore new destinations, including the Asia Pacific region, as it expands its fleet.

As BeOnd secures additional funding and moves forward with its growth strategy, the airline’s unique positioning in the leisure travel sector will be closely monitored within the aviation industry.