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Surf Air Mobility Secures $50 Million Financing for Transformation Plan

Nov 14, 2024•over 1 year ago

Contract Type

partnership

HawthorneTravel

Description

Surf Air Mobility Inc. has announced the closing and funding of its new Senior Secured Term Loan from Comvest Partners, a multi-billion-dollar investment management firm. This financing will facilitate the next phase of its transformation to become the world’s premier regional air mobility platform.

Company Information

Company

Surf Air Mobility

Location

Hawthorne, California, United States

About

Surf Air is a Los Angeles-based electric aviation and air travel company expanding the category of regional air travel and reinventing flying through the power of electrification. Surf Air intends to develop powertrain technology with its commercial partners to electrify existing fleets, bringing electrified aircraft to market at scale in an effort to substantially reduce the cost and environmental impact of flying. The management team has deep experience and expertise across aviation, electrification, and consumer technology.

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Strategic

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Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months