Nigerian Website Raises $1.2 Million in VC Funds

 

Hotels.ng a Nigerian hotel-booking site has raised $1.2 million in VC funding for expanding its services across Africa. This is one of the biggest rounds of funding for a tech venture in Nigeria's history.

The company started by Mark Essien received the funds from a group of investors that included EchoVC Pan-Africa Fund and eBay's founder Pierre Omidyar's Omidyar Network, according to TechCrunch.

Hotels.ng will first launch new operations in neighboring Ghana before expanding into other West African Countries and eventually the rest of the continent.

The report states the site will focus on its mobile platforms. This makes since because that is the method many African consumers use to access the internet in one of the fastest-growing mobile markets in the world. More than 70,000 new customers registered for the site conducting over 1 million searches in 2014. Couple that with the fact the Nigerian business sector has been seeing continual growth and tourism is expected to grow to 5.8 % of Nigeria's gross domestic product by 2024 and it’s easy to see why the whole world is paying attention with their pockets.