Home > Online > Nigerian travel booking site Hotels.ng raises $1.2M, plans expansion

Nigerian travel booking site Hotels.ng raises $1.2M, plans expansion

05/27/2015| 1:21:38 PM| 中文

Hotels.ng, the Nigeria-based travel booking startup founded by Mark Essien, has raised a $1.2 million Series A round of investing from the funds Omidyar Network and EchoVC.

The 34-employee company declined to reveal the valuation placed on it by the deal.

But CEO Essien said it was set “at a valuation that has given Spark a 5x return on investment already, and that will allow me generate another 5x return to the new investors.” In 2013, Nigerian accelerator Spark founded by Jason Njoku, made a seed investment of $225,000.

Hotels.ng, founded in 2012 and saying that it is now profitable, says it lists 14,000 hotels across Nigeria.

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TAGS: Hotels.ng | OTA | Nigeria | investment
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