Travacoin, which has developed a payment platform that enables airlines to save time and money by using a blockchain-based token for refunds and compensation, has announced Shashank Nigam, a global airline thought leader, as an investor and adviser to the company.
While the details of the investment are not being disclosed, Shashank Nigam will receive a minority equity stake in the company in return for a cash consideration and time commitment over the coming 12 months. He will also join the company’s board of directors in due course.
Youngest winner of Global Brand Leadership Award
Shashank Nigam is the founder and CEO of SimpliFlying, one of the world’s leading aviation marketing firms, having worked with more than 90 aviation clients in the last 10 years. His new book on airline marketing, 'SOAR', is an Amazon bestseller. He is also the youngest winner of the Global Brand Leadership Award and has addressed senior executives globally from Chile to China.
Travacoin was established in 2016 by Brian Whelan, a seasoned entrepreneur who has worked in and around the aviation sector for nearly 15 years. The company is headquartered at NovaUCD, the Centre for New Ventures and Entrepreneurs at University College Dublin and is supported by Enterprise Ireland.
Travacoin founder and CEO, Brian Whelan said: “We are delighted to have a person of Shashank’s stature and experience come on board with Travacoin. He is a genuinely innovative thinker and his ideas and perspectives are also rooted in solid and practical experience, based on more than 10 years of working with airlines all over the world.
“Shashank will bring invaluable insights into effective communication between airline and passengers and the encouragement from a person of his standing in the industry will provide a significant boost to our progress.”
'Disruptive potential of the business'
Shashank Nigam said: “Travel delay compensations is a billion dollar industry that hurts the airlines, the airports and the passengers. When Brian shared with me how he’s planning to break the status quo with Travacoin, I immediately saw the disruptive potential of the business. The idea behind
Travacoin is an exciting one with great potential to effect change for good for the industry.
“Brian and his team have done well to develop it this far and I believe I can add real value by helping to shape their plans to bring them to the next stage. Moreover, Brian has been at this for over three years – grit is a key quality for any entrepreneur to succeed.”