Published on June 20th, 2017 | by Diogo Costa0
FinalPrice, an Innovative Travel App, Launching in the US
When you think of an app in the travel field, chances are you will not associate it with a subscription-based model. But that is about to change as FinalPrice, a new mobile app reaching the United States, has implemented it. It works by delivering the best possible travel-related deals to users, for the yearly fee of $99.
Just as it is reaching the land of Uncle Sam, FinalPrice is receiving a substantial funding round of $4 million, coming from Almaz Capital and Sistema VC. These funds will be used for marketing initiatives, product development and scaling, important stuff for a company entering a market estimated to be worth $315 billion back in 2015.
Peter Kutis, founder of FinalPrice, explains how his company stands apart from the competition:
“The majority of the U.S. market is moving to a subscription plan, from Netflix and Spotify to Amazon and dry cleaning. We want to become the Amazon Prime of travel. With the old-school approach, online travel agencies utilize a model where competition is brutal and price is the only factor.
A subscription approach to travel offers better prices and better loyalty. No more ‘spend more to save more,’ last minutes deals, or excluded taxes. You don’t have to be ‘Genius’ traveler to get fair prices. All the commissions we get from the suppliers are returned to customers as a discount or cashback. You get what we get. Period.”
This subscription model is also useful for the company, as it does not need to make money with each sale. This takes off some pressure, while also allowing for FinalPrice to offer prices at cost, resulting in better prices and increased satisfaction for the final user – a frequent traveler who spends $10,000 will enjoy savings of $2,500 while using this app.
By paying $99 per year, users have access to discounted prices on flights, hotels, and car rentals, while also obtaining a personalized and improved experience with the app. This happens because of FinalPrice’s powerful algorithms and artificial intelligence, which use the user’s preferences to offer the results that will most appeal to them.
FinalPrice is now available in the United States, so be sure to give it a go and start saving on your travels right away.