Travelstart Raises $US40 Million To Capture Africa’s Fast Growing Multibillion Dollar Online Travel Market,Partners with MTN


Travelstart, a leading Internet travel booking company in Africa, has announced an investment of US$40M led by Amadeus Capital Partners (London). With the new funding comes a strategic partnership with Nigeria’s largest mobile telecommunications provider MTN which has a subscriber base of more than 40 million locally.

The funding will be used for Travelstart’s growth in Nigeria and to solidify the company’s position as the biggest OTA player on that continent. Andrea Traversone, Investment Partner at Amadeus Capital, will join Travelstart’s newly formed board of directors.

While the move will strengthen Travelstart’s position in the local market with robust anti-fraud systems and procedures, the agreement with MTN will give the OTA access to multiple payment points throughout Nigeria. MTN subscribers will be able to access special deals not available elsewhere in the market.

“Since our launch in Nigeria in 2012 we have been positively surprised by Nigerians’ passion for everything technology and this gives us confidence in the future. We have enjoyed triple digit growth in Nigeria every year and this will continue for a while. The investment from Amadeus Capital and the MTN partnership is a fantastic fit for the Nigerian market who will get access via mobile to better fares and more payment methods,” says Travelstart founder Stephan Ekbergh.

Amadeus Capital Partners’ Andrea Traversone will join Travelstart’s Board of Directors as part of this financing, “The market potential for Travelstart is huge and the company is already a tour de force in emerging markets. They are one of the most profitable e-commerce companies on the African continent and with this new round of funding Travelstart will be able to fast-track its already rapid growth. We’re excited to spearhead this round and to see the company’s continued growth and success.” said Traversone.

Nigeria: Africa’s most populous nation and largest economy with widespread Internet connectivity, a growing middle-class with spending power, and a booming online shopping landscape underpin Nigeria’s reputation as a promising market for brands that seek to expand through e-commerce. According to projections by the United Nations, Nigeria’s population, which is growing and urbanizing at one of the fastest rates in the world, is expected to increase from 180 million to 400 million by 2050. That would place Nigeria behind only India and China in terms of population size.

According to figures released by the Nigerian Communications Commission (NCC) in August 2015, the number of internet users on the country’s telecoms networks has hit 97.21 million.

Since launching in Nigeria in 2012 Travelstart has grown its share of the burgeoning online travel booking market, and the company’s latest capital injection indicates the confidence international companies have in Africa. Considering MTN’s subscriber base in Nigeria alone the partnership makes sense for both Travelstart and the telecoms giant who reported 41.84 million subscribers browsing the internet on its network in 2015 – an increase of 423,448 subscribers between August and September 2015.

Kenneth Omeruo
Omeruo Ndukaku Kenneth is an Innovation Management expert,the CEO of Emerging Media,a new media company.He is a member of ISPIM - International Society for Professional Innovation Management and the US-Africa chamber of Commerce.He is the Founder of TechTrends Nigeria Blog,Nigeria Innovation Summit and the African Innovation Academy.Kenneth is a highly sought-after Internet Marketing Consultant who has through his seminars, articles, training and consulting, helped many organizations, Individuals, Businesses maximize the Internet for business purposes.Kenneth has also being featured as a guest on the TV show TODAY ON STV Nigeria and on Bloomberg Africa TV.He is the author of the best –selling Internet Book: How To Create Unlimited Internet Wealth. He is a syndicated columnist with the following Newspapers in Nigeria: Daily Independent, Financial Standard, PUNCH, BusinessDay, and Sun.Kenneth organises the EduNet Conference for Universities in Nigeria. Kenneth is a member of Institute of Software Practitioners of Nigeria( ISPON ) Roundtable For Capacity Development in Nigeria,member pre-selection committee for Nigeria at the UN World Summit Awards,a Panelist for Youth Enterprise With Innovation in Nigeria(YouWIN)-a Federal government initiative created by the ministry of finance,supported by ministries of Communications Technology,Youth Development,Worldbank and DFID. A 2013 Judge at the Google Cloud Developers Challenge for Sub Saharan Africa.He has been a contributing editor of Nigeria Communications Week,Africa Telecom and IT Business Magazine,ICT Today magazine,M2 magazine.Kenneth has been invited to the Commonwealth Telecommunications Organisation Forum, Oracle Open World Conference USA, Oracle Cloud World Dubai, and GITEX Dubai. He now lives in New York with his family and presently working on an Open Innovation project for Nigeria. You can contact Kenneth through email: (kenneth (at) On Skpe:Kenneth.Omeruo

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1 Comment

  1. This company is going to be a disruptive force in Nigeria. Congratulations TravelStart

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