Travelstart, a South Africa-based Online Travel Agency (OTA), raised US$40m in funding.
Amadeus Capital Partners made the investment. In conjunction with the funding, Amadeus Capital Partners’ Andrea Traversone will join Travelstart’s Board of Directors.
The company intends to use the funds for expansion and consolidation of position as the biggest OTA player in Africa.
Led by CEO Stephan Ekbergh, Travelstart is a South African-based Online Travel Agency (OTA) which provides travellers with real-time access to thousands of flights from all carriers serving 2 million monthly users in 16 countries.
Founded in 1999 in Sweden, Travelstart has been in South Africa since 2006 and its African businesses were spun off in 2010 to focus on the emerging market opportunity.
The company, which has offices in Cape Town, Dubai, Istanbul, Lagos, Cairo and Dar es Salaam, also announced a strategic partnership with Africa’s largest mobile telecommunications provider MTN [JSE: MTN] which has a subscriber base of more than 230 million.