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Pan African TravelTech Firm, HotelOnline Raises US$320,000 From Sharavan Shroff, Existing Investors

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Pan African TravelTech Firm, HotelOnline Raises US$320,000 From Sharavan Shroff, Existing Investors

HotelOnline, a travel technology firm with extensive presence across Africa has raised US$320,000 mainly from the existing shareholders.

Several of the existing major investors are from Norway and Nigeria who have significantly increased their shareholding while Trond Riiber Knudsen, Norway’s most active startup investor has also invested in the company.

Sharavan Shroff who is known as the first investor in traveltech unicorn OYO Rooms, and the co-founder of India’s first angel investor-backed startup accelerator, Venture Nursery was among the new shareholders. Shravan Shroff will join the board of directors. 

In an email statement to Founder360°, Co-founder and CEO, Havar Bauck said: “With Shravan, our board becomes an even stronger team of recognized international professionals, providing oversight and guidance as we transition from a startup, to a profitable scale-up in 2019.”

He also stated that the proceeds will be used to strengthen the company’s position in the current core markets, and to strengthen their focus on delivering outstanding quality to their best hotel partners, creating more exceptional performance cases.

“Our focus will be on doing more of what we do best: Creating outstanding value for our hotel partners, and for our shareholders,” said Bauck. 

Read:Zambia-based Asset Financing Firm Rent to Own (RTO) Secures US$1.12M From DGGF (Triple Jump BV)

HotelOnline provides a proprietary cloud-based property management system enabling online bookings for hotels.

Håvar(left) and Endre (right) | Image Credits: Håvar / Endre

The company was founded in 2014 by Endre Opdal and Håvar Bauck as Savanna Sunrise providing solutions for e-commerce and digital marketing to hotels in East Africa then merged with Polish traveltech startup Hotel Online, to create the company now known as HotelOnline.

In 2018, they merged with Senegalese Teranga Solutions to expand across Francophone Western Africa. 

The article was updated at 11:45 PM/09/07/2019 with Håvar Bauck’s statement. 

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CEO and Founder at Founder360° Magazine.

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