On July 16, 2019, Flybits announced its USD$35 million venture financing led by Point72 Ventures, with participation from Mastercard, Citi Ventures, and Reinventure. Existing investors also participated in the round including Portag3 Ventures, TD Bank Group, and Information Venture Partners. Flybits will use the investment to expand teams, commercialize its portfolio, enhance the user experience, and develop a marketplace to forge partnerships between banks, FinTechs, and data providers.
Flybits is a context-as-a-service company which leverages technology to pool together disparate, public and proprietary data such as location, social profiles, user preferences, environmental data and much more to create a personalized digital experience for the user.
Osler, Hoskin & Harcourt LLP advised Flybits with a team consisting of Chad Bayne, David Jamieson and Andrew Irwin (Emerging and High Growth Companies).