Nigerian online travel booking startup Travelbeta.com has disclosed the details of its seed funding round, revealing it raised US$2 million.
Disrupt Africa reported Travelbeta.com launched to market saying it had investors willing to support the startup “as long as it takes” to become the region’s top provider. However, the startup did not disclose the amount of funding, and its investors wished to remain anonymous.
The startup has now revealed the seed fund came to US$2 million, led by Altheus Limited, alongside a group of Nigerian investors.
The funds will be used for online marketing, acquiring real estate for the startup, as well as expanding staff.
“We have raised a seed fund of $2,000,000 from a group of Nigeria investors […] who believe we can dominate the Nigerian travel industry in the next three years because of our unique plans for Nigerian travellers. We are also in talks with more international capitals and investors to grow our business,” said Onyeka Akumah, the co-founder and chief commercial officer of Travelbeta.com.
On launching, the Travelbeta platform provided bookings to over 300,000 hotels worldwide, including over 1,000 Nigerian hotels, and flights to 900 destinations.