Kenyan accommodation booking site SleepOut has raised approximately US$200,000 in seed funding to finance its expansion across Africa and the Middle East.
The company aims to re-launch the platform with accommodation offerings in 10 countries across Africa and the Middle East by late 2013.
Amsterdam-based Africa Media Ventures Fund (AMVF) is leading the funding round for the company.
“In taking this big step forward we wanted a partner that could bring their wealth of industry expertise to see SleepOut consolidate its position as the region’s leading social accommodation marketplace and we look forward to working together as we expand across the region,” Johann Jenson, chief executive officer (CEO) and co-founder of SleepOut said.
Lot Carlier, managing partner at AMVF said: “We are truly excited to embark on this venture. As internet penetration and e-commerce increases on the continent a new consumer class is emerging and SleepOut is simply in the right place at the right time.”
“Together with a solid expansion strategy and a seasoned team with vast regional networks we are confident that SleepOut will provide a best-in-class service across these expanding markets.”
In addition to the funding SleepOut also unveiled its new online travel and lifestyle magazine – NOMAD – focusing primarily on Africa and the Middle East.
The online magazine allows users to read and submit travel stories for publication by the magazine’s editors.
“SleepOut provides choice, efficiency and peace of mind for travellers wishing to discover a rapidly modernizing Africa. The concept is simple: SleepOut connects travellers looking for unique and affordable accommodation with hosts who have a place to offer,” SleepOut chief operating officer (COO) and co-founder Mikul Shah.
Launched in June 2012, SleepOut provides a secure platform for accommodation hosts which include hotels, property owners and agents in Africa to list their u
