"WayFare wants to create a world where people can , , and in ways that are
How many travel plans are on your bucket list right now that you know, in all honesty, you’ll probably never get to? For most people the truthful answer is painful. Travel is one of humanity’s collective aspirations.
Few groups feels this pain more than millennials. A dizzying 85% of millennials don’t travel as much as they’d like because they can’t afford it. Contrary to popular belief most millennials aren’t cash poor, we freely and generously sacrifice our disposable income on experiences over ‘stuff’; frequenting quirky bars with drinks served in mason jars and paying bizarre amounts of money to be trapped in rooms we have to figure our way out of. Why not do the same for free at any IKEA? Because we’re thirsty for novelty; but paying $500+ for travel, the ultimate experience, creates a significant cash flow problem that would leave many with only enough to survive on instant ramen noodles until payday.
Millennials also don’t engage with credit. Burdened with student loans, wary of interest charges, hidden fees, and general distrust of the finance industry leaves many without viable options to afford travel. The result is a vast group of consumers keen to throw their money at airlines that want to take it but can’t because airlines have their own problems. So are millennials about to kill off the travel industry they love so much? We sure hope not.
WayFare believes the world is your oyster, but the cost of flights shouldn’t make you consider selling a kidney! In a world where technology has made us more connected than ever, it’s damning that we’ve become more isolated and divided than before.
We think travel is the cure.
We have a tenacious plan to reinvent the way people plan, book, and pay for travel; it’s affordable, thrilling, and intuitive…and it’s as effortless as booking an Uber. Our journey starts with payments; it’s not credit which means anyone anywhere can use it.
And it’s so revolutionary it’s old.
Before credit cards became ubiquitous, layaway (called ‘lay-by’ in Australia and New Zealand) was the most common method of purchasing big-ticket items. The buyer made regular payments on their items and the retailer would lay the items away in storage until payment was complete. While not space-efficient, it created no risk for the seller (they still had the item to sell if payment weren’t kept up) nor the buyer (they could pay when they wanted and get most their money back, if needed).
WayFare is simple. It’s layaway for airfare.
Shopping cart abandonment in travel sector
Millennials would travel more if affordable
countries registered with WayFare before launch
countries registered before launch
We are a FinTech-Travel hybrid still in our seed stage, looking to execute our strategy quickly. Predominantly, we’re on the lookout for angel investors or syndicates with experience in finance, banking, and travel.
Most importantly we want investors with heaps of vision mixed with a big dose of empathy. Our plans are set to play the long-game and are laser-focussed on providing phenomenal experiences for our users. We plan to grow tremendously but not by offering our customers business as usual.