We had earlier reported a coming into the market of an online travel booking agency, Travelbeta.com. Less than six weeks into the Nigerian industry, reports have emerged that the online travel agency has raised $2 million in seed funds after its website went live on the 1st of October, 2015.
According to news reports, 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 and has generated $522,000 in revenues since.
Onyeka Akumah, Co-Founder and Chief Commercial Officer of Travelbeta.com said, “We have raised a seed fund of$2,000,000 from a group of Nigerian Investors (lead by Altheus Limited) who believe we can dominate the Nigerian Travel Industry in the next 3 years based on our unique business model, the capability of the team leading this vision and the potential of the market size in Nigeria. We are also in further talks with an increasing number of interested investors outside the country who are beginning to take African and in particular Nigerian travel numbers seriously,”
He also added that the new capital injection would be deployed for aggressive online marketing, improving their technology platform especially for mobile, real estate acquisition and boosting staff strength.