Travelbeta.com Raises $2M in Seed Funding

TravelbetaTravelbeta.com, a Lagos, Nigeria-based online travel agency, raised a $2m in seed funding.

Backers included a group of Nigerian Investors led by Altheus Limited.

The company intends to use the funds to increase online marketing efforts, improve the technology platform especially for mobile, real estate acquisition and boost the staff.

Considered as Nigerian version of Expedia, Travelbeta & Tours Limited, the controlling company of the flights and hotel booking platform, began operating as a physical agency in July 2015 before switching online in October 2015: It has generated $522,000 in revenues since.

Led by Onyeka Akumah, Co-Founder and Chief Commercial Officer, Mr. Wale Ayorinde, Chief Technology Officer, and Mr. David Asuku, Head of Operations, Travelbeta is supported by Amadeus and IATA, and provides bookings to over 300,000 hotels worldwide including over 1000 Nigerian hotels and flights to 900 destinations worldwide.

FinSMEs

19/11/2015

Join the discussion