Travelbeta.com is the newest online travel agency in Nigeria and it has raised $2 million barely six weeks of going live online.
According to Onyeka Akumah, co-Founder and Chief Commercial Officer of the company, “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.”
Though Travelbeta & Tours Limited, the controlling company of the flight booking platform started as physical agency in July 2015, it switched online in October 2015 and has generated $522,000 in revenues since.
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The company stated 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.
According to the Nigerian Bureau of Statistics, 21 million Nigerians have travelled in and out of the country through airports in the last 12 months and only an estimated 300,000 of these bookings have happened through online travel agencies within the period.
