NNAX
Industry:
Consumer Services

DESCRIPTION

New Momentum, through its subsidiary Nemo Holding, operates Gagfare, an online flight booking platform that lets travelers reserve up to nine seats across more than 500 airlines globally by paying a non-refundable $2 upfront fee, with the full ticket price due closer to departure. The core premise is that travelers can lock in a seat and fare early without full financial commitment, avoiding the frustration of seats or prices disappearing before they are ready to buy. Gagfare sells directly to travelers via its website and a mobile app, which is currently being upgraded and is expected to be fully operational by end of 2025. Gagfare earns revenue from the $2 booking fee per reservation and, when a traveler completes a purchase, a potential margin on the ticket transaction. The company also plans to sell advertising space on its platforms to travel-related businesses. New Momentum intends to expand the book-now-pay-later model beyond flights into hotels, cruises, trains, buses, theme parks, and event tickets. The company is at an extremely early stage, with just two employees, no physical property, and a platform that is not yet fully operational.

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