€200,000 for 8% of the equity, to scale a business that already generates revenue.
Flawverce is a Paris-based Corporate Events & Travel company. It runs stays, events and VIP logistics in France and across Europe for corporate clients, travel advisors and travel agencies, most of them American. The investment funds the technology layer that lets the same team handle more bookings at a higher margin.
Book a call with the founder · connect@flawv.com
Incorporated, insured, licence being finalised
Flawverce has been invoicing since December 2025 and is finalising its official travel operator registration.
- Legal name
- Flawverce Services et Logistique, SAS (French simplified joint-stock company)
- Registered office
- 2 rue Lefebvre, 75015 Paris · Paris Trade and Companies Register
- Incorporated
- December 2025
- Founder
- Walid Osmani, President and sole shareholder
- Business
- Corporate Events & Travel: bespoke stays, corporate events, yachts, restaurants, VIP logistics
- Contact
- connect@flawv.com · flvrce.com
Regulatory status
- Professional liability insurance for travel activities signed with Hiscox, worldwide cover, €1.5M per insurance period, USA and Canada included, effective upon Atout France registration.
- Financial guarantee: application accepted by the guarantee body, being finalised as part of the registration.
- Atout France registration (the French travel operator register, which grants official DMC status): application being finalised, target November 2026.
- Share capital being increased to €7,500 as part of the licence application, decision taken, ahead of the investor coming in.
The founder
Walid Osmani comes from luxury hospitality: Ritz-Carlton (Arizona), Four Seasons (Megève), MOMA Group in Paris. Before Flawverce he spent two and a half years as Luxury Experience Designer at Queen of Clubs Lifestyle, designing programmes for international travel agencies and advisors. He designed and led the development of the entire platform described in this document. Business development relies on a senior partner from the B2B luxury travel world, ten years in hospitality including four with a leading European destination management company.
Nine months of trading, one founder, no funding
The figures below come from bank statements and the internal profit and loss statement. They describe actual trading, not projections.
Month by month
Monthly cash receipts, first half of 2026.
Where clients come from
No marketing budget spent to date. Inbound demand is organic.
What has been delivered
- More than 25 projects and 10 paying clients, including repeat clients
- Corporate retreat in Provence for an international investment bank
- Brand activation in Paris for a global crypto platform
- Yacht day in Cannes for an international fashion brand
- Seminars, private dinners, chalets and villas for companies and agencies
A B2B2B funnel: American agencies bring the travellers, Flawverce operates on the ground
End clients are not acquired one by one. They come through travel agencies and advisors who need a reliable operator in France and Europe.
Three channels
- Travel agencies, mostly American
- Independent travel advisors and agents
- Direct clients: companies, executives, public figures
Flawverce
- Programme design and quote in hours, not days
- Booking and coordination of suppliers
- On-site presence and real-time follow-up
Selected suppliers
- 853 listed suppliers, 2,648 priced products
- 504 catalogued restaurants and venues in Paris
- 142 guides and 66 transport providers
Why American agencies
American advisors affiliated with networks such as Virtuoso sell France and Europe to high-spending clients but have no team on the ground. What they buy is a local operator able to respond fast, guarantee the services and hold the client relationship during the stay. The founder designed exactly this kind of programme for two and a half years for these same agencies. The average agency booking sits between €8,000 and €20,000, with natural recurrence: a satisfied advisor comes back with their next clients.
Comparable transactions in the sector: Velocity Black, acquired by Capital One for $297M at 16 times revenue for its technology and its high-net-worth client base; Scott Dunn, acquired by Flight Centre for £121M, about 4 times revenue; Ten Lifestyle, 22% EBITDA in 2025.
Every euro goes to the layer that carries the highest margin
On delivered projects, an event run by hand yields a gross margin of 9 to 16%. A booking made through the platform yields 87%. The gap is already measured.
Gross margin on events and stays coordinated by hand, where the time spent is not billed.
Gross margin on bookings made through the online catalogue: €14,800 collected in the first half of 2026.
Already running in production
Core operating system (COS)
Bespoke CRM and itinerary builder, 31,000 lines of code. Real-time margin calculation, proposal generation, sales pipeline, supplier and prospect databases.
Studio
A latest-generation AI model turns an email thread, quotes and photos into a complete client itinerary, published in 16 seconds from the data in the booking alone.
Catalogue and client account
504 venues in Paris, online booking with a client account, iOS and Android mobile app built, submission to the stores planned at closing.
Advisor portal and AI assistants
B2B portal for partner advisors, live. WhatsApp assistant trained on 852 internal documents. Instagram reply agent in operation.
Technology programme funded by the round, 12 months
- US agency portal: self-serve ordering for partner agencies, with quotes, availability and confirmation handled without email exchanges.
- COS version 2: multi-account architecture, dynamic pricing, per-booking reporting, groundwork for licensing to other operators within five years.
- Mobile app: App Store and Google Play release, notifications during the stay, centralised travel documents.
- AI client assistant: round-the-clock answers to travellers during their stay, connected to the booking and the suppliers, with a human taking over on anything binding.
- Security and compliance: security audit, GDPR, backups, European hosting.
€200,000: 55% to technology, 22% to US business development
Every line is spent within twelve months. Development is run in-house with contractors paid by the task, and no permanent hire until revenue supports it.
Line by line
| Item | Content | Amount |
|---|---|---|
| Technology platform | Agency portal, COS V2, app published on the stores, AI client assistant, security. Development led in-house, contractors paid by the task. | €110,000 |
| US business development | Luxury travel trade shows (ILTM Cannes, Connections, Virtuoso), two prospecting trips to the United States, sales material. | €45,000 |
| Regulatory, insurance, legal | Shareholders' agreement, capital increase costs, insurance premiums, registration formalities. | €15,000 |
| Cash reserve | Cash cushion to absorb the gap between supplier deposits and client payments on large bookings. | €30,000 |
| Total | €200,000 | |
Break-even in year two, €2.5M revenue in year four
Two scenarios. The conservative one assumes a gross margin close to today's and a team of three in year two. The target scenario adds 30% more volume through the agency portal.
| In €K | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue | ||||
| Gross margin | ||||
| Gross margin rate | ||||
| Operating expenses | ||||
| Operating result | ||||
| Cumulative result |
Assumptions
- Base: €120K booked in the current financial year, before the licence and without a structured sales effort.
- Mix: travel agencies and advisors 60 to 70%, corporate events 20 to 30%, private clients the balance. Target average ticket of €8,000 to €20,000 per agency booking, €15,000 to €40,000 per event.
- Gross margin: 28% in 2027, rising one point a year as platform bookings grow and negotiating power with suppliers improves.
- Expenses: founder paid from 2027, an operations manager in the second half of 2027, a salesperson in 2029, hosting and tools, trade shows and insurance.
- Target scenario: volume up 30% each year on the same cost structure, agency portal in production in the first half of 2027.
A €200,000 capital increase reserved for the investor, for 8% of the equity
One entity, one registered shareholder today. The investor comes in through newly issued shares with a share premium, and no sale of existing shares.
Pre-money valuation €2,300,000, post-money €2,500,000. The subscription price and the number of shares issued are set out in the shareholders' agreement on the basis of a €7,500 share capital.
Rights offered to the investor
- Quarterly reporting: figures, pipeline, technology progress
- Enhanced information rights and access to annual accounts
- Pre-emption right and tag-along clause
- Anti-dilution protection in case of a later round at a lower valuation
- Liquidity clause at five years: sale, buy-back or entry of a new investor
Final terms are set out in the shareholders' agreement at closing.
Return for the investor
Move the slider to test an exit valuation in 2030. The 8% stake is calculated before any later dilution.
Reference points: €8M is about 3 times 2030 revenue in the conservative scenario, in line with the multiples paid for travel operators without technology. One player with a proprietary platform sold at 16 times revenue (Velocity Black, 2023).
Twelve months after closing
- Q4 2026
Licence
Atout France registration, share capital at €7,500, closing of the capital increase, specification of the agency portal.
- Q1 2027
Agency portal
Portal for American agencies goes live, ILTM Cannes beforehand, Connections Luxury, first trip to the United States.
- Q2 2027
App and assistant
App released on the stores, AI client assistant during the stay, multi-account COS V2, hiring of the first operations manager.
- Q3 and Q4 2027
Thirty active agencies
Target of thirty active partner agencies and advisors, first break-even months at year end, preparation of the 2028 season.
Identified risks and mitigations
| Risk | Mitigation |
|---|---|
| Concentration: one client accounts for close to half of first-half 2026 revenue | The agency funnel diversifies the client base by design. Target: no client above 20% in 2027. |
| Dependence on the founder | Processes are documented in the internal system and a handover kit exists. First operational hire funded by the round. |
| Time needed to obtain the licence | Insurance signed, guarantee accepted, registration in progress. Meanwhile, the events business and stand-alone services do not require the registration. |
| Strict liability for subcontracted services | Suppliers selected and rated in the internal system, worldwide professional liability cover from registration, general terms and client contracts in place. |
Sources
- Trading figures: Qonto bank statements and internal profit and loss statement, December 2025 to June 2026; cumulative revenue as at 16 September 2026.
- Market: Grand View Research, Luxury Travel Market 2025; GM Insights, DMC Market 2024; Knight Frank, Wealth Report 2025.
- Comparables: Capital One, Velocity Black acquisition announcement, 2023; Flight Centre, Scott Dunn acquisition, 2024; Ten Lifestyle Group, annual results 2025.
- Regulation: French Tourism Code, articles L211-1 et seq.; Atout France, travel operator register.