Tuvoli is a new business-to-business marketplace for private aviation and the very first to have an integrated payments platform. Tuvoli seeks to revolutionize the way private jet companies buy, sell and pay for services, saving its customers valuable time and money. It is owned by Directional Aviation, which over the past 25 years, has developed an industry-leading portfolio of private jet travel companies.
Directional’s family of companies include those offering the fractional ownership of private jets, on-demand private jet charters, cards offering customers pre-paid flying hours on a certain category of plane, and fuel for private jet operators.
Two years ago, Tuvoli set out to address a problem that plagues the private jet travel industry: booking and payments systems are stuck in the past. To travel on a private jet, individuals need to call a broker, who then contacts different private jet operators on their behalf. Meanwhile, operators have to deal with the multiple different payments systems run by brokers, fuel providers and others in order to get paid for moving customers from point A to B.
To address this, Tuvoli launched the first business-to-business online marketplace with an integrated payment platform, enabling companies to buy and sell services and make end-to-end payments, 24 hours a day, 365 days of the year, without paying exorbitant transaction fees.
The company wanted an open banking partner that could provide these payment services now, but that was also committed for the long term, allowing Tuvoli to introduce new banking and payments services to customers as it grew. As Tuvoli was speaking to various banks, it found that most were not prepared to support a company like Tuvoli going live on white label banking services. That changed after meeting Susan French, BBVA’s Head of Product. It found that BBVA was ready to support Tuvoli from day one and that the product roadmap aligned with Tuvoli’s vision for the future.
Working closely with BBVA’s product, legal and integration teams, Tuvoli launched a live pilot with BBVA’s Move Money in October 2018. The company went live with BBVA’s Accounts in March 2019 and did a general launch in October 2019 at the NBAA Business Aviation Convention Exhibition (NBAA-BACE). It currently has over 100 operators and brokers and more than 1,000 aircraft using its platform, and continues to add more everyday. The goal is to provide the private aviation industry the tools it needs to run its businesses smoothly and efficiently.
In the future, Tuvoli would like to expand its relationship with BBVA. By combining BBVA’s next generation payment and banking services with Tuvoli’s decades of industry knowledge, Tuvoli plans to continue streamlining the way in which private aviation companies do business.
BBVA’s Banking-as-a-Service offering has the ability to completely transform different industries. By leveraging BBVA’s infrastructure, bank license and capabilities, Tuvoli can bring next generation open banking and payments technology to a private aviation industry that is still used to writing checks.
Co-Founder and Chief Operating Officer, Tuvoli
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