Launched in October at NBAA-BACE in Las Vegas, the Tuvoli online charter booking and payment platform has seen strong growth with more than 90 companies now represented, the company announced this week at the 2020 NBAA Schedulers & Dispatchers Conference (SDC). Customers include both brokers and operators representing more than 600 aircraft.

An open platform, Tuvoli requires no particular industry affiliation for its customers to transact on the platform and there are no upfront costs or monthly subscription fees for brokers and operators. They pay a small transaction fee when they confirm a trip through the app-based platform. Contracts are completed via DocuSign and payment is made through the company’s proprietary technology, which establishes FDIC insured escrow-like accounts through Tuvoli’s global banking partnerships.

Guaranteed payments are made when the operator has been selected, and the terms of the contract have been confirmed. The buyer authorizes funds to be moved into the account, which is confirmed with the operator. Those funds are released instantly upon the satisfaction of both parties at the conclusion of the trip. According to the company, using the guaranteed payment is better than a credit card as the transaction is done when the buyer releases funds to the operator and the fees are lower.

Tuvoli was one of the companies featured in the inaugural New Product Showcase yesterday at SDC.