JetSmarter looking to raise $170 million in equity

JetSmarter, the online private jet marketplace, is attempting to raise $170 million in new equity.

On 11 October 2016, it had sold $5 million in shares, according to a Securities and Exchange Commission (SEC) filing.

The company claims to be the fastest growing company in business aviation but chose not to disclose its sales on the SEC form.

JetSmarter has said that previous investors include rapper Shawn Corey Carter (better known as Jay Z) and members of the Saudi Royal Family

The company offers a number of membership levels. These include a $11,000 yearly membership (with a $5000 joining fee) which gives members the opportunity to use seats on shared private jet flights. It claims to run 76 shuttles a week between cities using chartered aircraft and also sells empty leg flights at a discount.

JetSmarter says it will have flown 35,000 passengers in 2016.