Jay Z, Saudi Princes Make Big Investments in Private Jet App

Credit: JetSmarter, Inc.

Credit: JetSmarter, Inc.

JetSmarter, an app that lets people book on-demand private jets is having a field day since it has just raised $20 million not from obvious venture capitalists but from a distinguished group of investors that includes Saudi royalty and famous celebrities.

The series B funding came from members of the Saudi Royal family and richest entertainment and music moguls including rapper Jay Z.

For those who are still not aware of JetSmarter, it works similar to Uber or Victor, where you can request the service of charter private jets instead of cabs. Just like Uber, the company has collaborated with independent carriers, whose schedules and locations are available on the app. Whenever you need a luxury air travel, book a private jet at least six hours in advance from any part in the world.

Most startups find it difficult to raise money and pitch to potential investors. But not so for Sergey Petrossov’s JetSmarter. According to the founder, his celebrity clients loved the app so much that they willingly offered to invest.

The Saudi Royal Family is apparently addicted to the app that nearly 10 different princes are involved in the investment plus they are booking their flights every other day through the app.


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