Travelstart, Africa’s leading online travel company based in Cape Town has announced a new partnership with global private markets investment firm HarbourVest, with US$58 billion under asset management, who will become a significant funding partner for the company.
HarbourVest will support Travelstart’s further expansion in geographies and growth in new verticals in the continents US$194 billion tourism and travel market.
“The partnership with HarbourVest is a confirmation of the future opportunity in online travel in this continent, our business and our team,” says Stephan Ekbergh, founder and CEO of Travelstart. “We are very excited to have them on board.”
The investment comes on the back of MTNs Asset Realisation Program. MTN and Travelstart will continue its commercial relationship.
The company was founded in 1999 in Sweden set up shop in South Africa in 2006 and became a household name and later ventured out into the African continent.