Wheels Up, a membership-based private aircraft company, says a new round of funding it recently secured will help it grow more quickly and acquire aircraft faster.

Wheels Up closed an equity-based fundraising round of $117.5 million in October and says it now has an enterprise value of $1 billion. Fidelity Management and Research Co. and investments manage by T. Rowe Price Associates led the latest round.

Four years from now?

“I think we can be a $5-$10 billion company,” CEO Kenny Dichter said during a press conference at NBAA.

Wheels Up currently operates 80 new aircraft, including 65 King Air 350i aircraft and 15 Citation Excel/XLS business jets. It is looking to add pre-owned Citation Xs to its fleet as soon as the first quarter of 2018 with plans to acquire 8-10 Citation X jets by the end of 2018, Dichter said.

The company has about 4,000 members. Around 65% are individuals and 35% are corporate members.  By 2020, it expects membership to reach 10,000.

“There’s no reason by 2025 into 2030 we shouldn’t have 25,000 or 30,000 members,” Dichter said. Member retention rate is running at 85%.

The company has been investing in digital technology. And it has partnered with 94 business jet operators who have completed Wheels Up’s safety audit to supplement its lift requirements.

When the company was founded four years ago, Wheels Up placed an order for 105 King Airs, then increased the order to 110. It plans to take delivery of 20 King Airs in 2018.

“We should be every year taking more airplanes than we took the year before,” he said.

It plans to expand into Western Europe but will wait to see what happens with regulations under Brexit. That will become clearer in the next year, Dichter said.