CULVER CITY, CA--(Marketwired - Dec 2, 2016) - FlitWays Technology Inc. (OTC PINK: FTWS) ("FlitWays" or the "Company"), a Los Angeles-based ground travel technology company, is pleased to announce additional details regarding the Company's ongoing expansion in the South American market, new mobile technology upgrades, and the current Series A investment round.
Growth in South America
On November 1st 2016, FlitWays launched its service in Rio de Janeiro and Sao Paolo in the effort to expand our marketing reach to grow the Company further and potentially dominate the enormous ground transportation service for enterprises in major travel destination markets like South America.
Since launching in South America, FlitWays has expanded its supply network to over 5,000 local drivers. In the coming weeks, the Company will be launching strategic business marketing campaigns to broaden its reach and grow its clientele base. FlitWays is also establishing distribution partnership agreements with travel agencies, travel management companies, and global transportation network companies operating in the region.
Series A Investment
FlitWays is proud to announce the official launch of its Series A investment round. The Company has raised $205,000 to date from accredited investors and have received approximately $500,000 in investment commitments from investment groups and venture capital firms. The Series A investment capital is intended to assist the Company to expand its current growth strategy and promote its ground travel booking technology services to new clientele and partner base.
Technology Upgrade
The recent expansion and investment capital have already enabled FlitWays to enlarge its technical resources by hiring new engineers to enhance the Company's core technology. FlitWays has also increased the size of its Research and Development team by 400% to bring its products to a significant state of modern competitiveness.
This expanded technical team has re-developed the latest FlitWays mobile application for iOS and Android from scratch with the latest state-of-the-art mobile technology. This new version of the FlitWays mobile application is expected to be released towards the end of December 2016.
With the new enhanced technical capacity, the Company is also building distribution integrations with several major travel distributors. This will allow the Company to improve its distribution position in the travel service marketplace which will brand FlitWays accessibility at major travel point of sale.
FlitWays Director of Growth, Zacky Hamraz commented, "This is the start of a very exciting period for FlitWays. With our recently expanded sales and marketing teams, and the new technical and financial resources at our disposal, we plan to continue rolling out our services in more cities across South America and in other international markets."