Northern Pacific Airways Solicits Investors on Wefunder
Concept art shows a Northern Pacific 757 in flight.
Northern Pacific Airways
Alaska’s newest airline has a sales pitch for residents of its home state: become part owner of the company for as little as $100. Alaskans opened their mailboxes this week to find that solicitation from Northern Pacific Airways, which is seeking investors through the Wefunder platform.
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“With a $100 investment entry, it’s less about the capital raise in our Community Round and more about providing increased investment opportunities for travelers,” says Josh Jones, Northern Pacific Airways board chair. “We chose Wefunder because they allow us to do just that, providing an easy and accessible entry point for anyone interested in investing.”
San Francisco-based Wefunder is the largest platform helping start-ups raise funding from customers and fans, alongside venture capitalists. The Community Round invites travelers to be part of the airline launch by purchasing an equity share.
“One of the most powerful forces in the world is when someone believes in you and backs it up with a bit of their own money. Community Rounds now allows that to happen at scale,” says Wefunder Vice President of Fundraising Jonny Price.
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April 2024
An international airline resorting to crowdfunding might seem like an act of desperation, but Price sees it differently. “It’s a mark of prestige when a company raises a Community Round,” he says. “It’s hard to build a business that your customers believe in so much that they actually want to invest their hard-earned money in the company’s success.”
Northern Pacific, a sister company of Ravn Alaska, has already spent a lot of money before carrying its first paying passenger. The company is building a fleet of Boeing 757 jets and began a $6 million renovation of the North Terminal at Ted Stevens Anchorage International Airport in advance of flights starting later this year.
“We know our success up until today and our success in the future is dependent on our community,” says Northern Pacific CEO Rob McKinney. “Because of that, we are opening up this Community Round to give Alaskans, supporters, customers, and travelers the opportunity to invest in our success and come along the amazing ride with us. We’ll see the response from Alaskans and if this is something that they want to get behind.”
Northern Pacific Airways plans to offer flights between the Lower 48 and East Asia, using Anchorage as a hub.
“From day one, it’s been important to our team that our travelers grow with us and have the opportunity to benefit from the startup of this international airline,” McKinney adds. “We’re a local business, an Alaska-based international airline, and we want to make sure that interested travelers can be part of it.”
Northern Pacific’s Community Round can be found here: Invest in Northern Pacific Airways: The Newest Trans-Pacific Airline! | Wefunder, Home of the Community Round.
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