YFM Group invests in mobile travel concierge services company Mantic Point Solutions Limited
March 2008
Air travel will be less stressful for many passengers as they will be able to receive free flight status updates direct to their mobile phone following an investment in Mantic Point Solutions by YFM Group managed Yorkshire & Humber Equity Fund (YHEF) and Partnership Investment Finance (PIF).
Leeds-based Mantic Point runs StreamThru, a white label, virtual concierge service for air travellers and travel service providers. StreamThru is the first free service that provides up to date flight information and other relevant travel information directly to a traveller’s mobile phone.
Air passengers opt-in to receive personalised SMS text messages which reduce the need to carry paperwork (e.g. reminders of booking reference and check-in instructions), keep them informed (e.g. delay notifications, personal boarding calls), and help them pass the time (e.g. exclusive travel related offers).
These updates can also include winter sports reports, weather reports, traffic updates, destination guides, and other fun information (e.g. quizzes, daily horoscopes, lotto results).
For airline clients, such as Monarch Airlines and easyJet, the service provides advertising revenue by allowing airport retailers to target the airlines, customers, and by creating a last minute sales opportunity for items such as trip insurance and upgrades.
Airline passengers fit into the affluent AB demographic, so advertisers gain access to thousands of attractive consumers every day and they can pinpoint exactly who they want to engage with based on each passenger’s profile, journey and preferences.
The funding will assist Mantic Point with its expansion plans to roll out the StreamThru service to other airlines and partners, to increase the range of free and paid for services offered to passengers, and to branch out overseas.
“Mantic Point has developed a wide range of services for travellers, alongside a strong commercial proposition to airlines, airport operators, retailers and travel companies. The company is in a unique position to seize a significant market opportunity,” said Ian Waterfield, YHEF Investment Manager
Alex McWhirter, Head of Enterprise at Yorkshire Forward, said: “Yorkshire delivers first class new media solutions and we are proud to be supporting a company like Mantic Point.”
PIF investment manager David Livesley said: “We are always looking to help businesses expand and SteamThru is a service adding real value to the airlines using it.”
Commenting on the deal, Mike Atherton, Managing Director of Mantic Point said: “We’re delighted to secure this investment from YFM Group. It will allow us to build on the success we’ve already achieved with StreamThru and we’re now well positioned to expand the business and deliver on our growth plans.”
YFM Group’s investment managers have backed a strong management team with industry credibility who are looking to increase their market share and continue with the high level of service already in operation.
In the last 12 months YFM Group has invested in deals worth over £107 million in the Yorkshire & Humber region.