Official reports reaching us this morning have confirmed that the hotel reservation startup has indeed secured an investment of $10 million from the Dangote Investment Group (DIG).
There have been rumors of the deal being closed yesterday, but we received a briefing that confirmed it early this morning. This investment sums up to the startup’s second investment round after the $1.2 million it got from international investors EchoVC and Omidyar Network.
The Dangote Investment Group (DIG) is an investment company set up by billionaire industrialist Aliko Dangote to support budding entrepreneurs in Nigeria. The group has stakes in hundreds of growing companies in Nigeria, Hotels.ng is its first funded tech startup and according to Suleiman Bello, the group’s managing director, it hopes to invest in more in the nearest future.
Hotels.ng has over 7,000 hotels on its platform and its operation spans across 21 regions in Nigeria, with over a million hotel searches on the platform to date. The $10 million funding will allow for expansion into new markets, scaling operations as well as hiring new talent.
— Mark Essien (@markessien) February 18, 2016
This post was published on April 1st, 2016 … April fool!