Amadeus Capital Invests US$40m In Travelstart
Travelstart, the leading Internet travel booking company in Africa, announced today 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.