Kenya’s leading online accommodation marketplace SleepOut.com, which allows users to find, offer and book unique accommodation online has today has raised approximately US$200,000 in seed funding to finance expansion across markets in Africa and the Middle East.
The round of funding was led by African Media Ventures Fund, an is Amsterdam-based Africa seed fund.
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.”
Johann Jenson, CEO and co-founder of SleepOut remarked that, “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.”
Apart from the seed funding, SleepOut also launched NOMAD, an online travel and lifestyle magazine focused on Africa and the Middle East. NOMAD, a first in the region has an attractive user interface for users to read and submit travel stories for publication by the magazine’s editors.
“SleepOut provides choice, efficiency and piece of mind for travellers wishing to discover a rapidly modernising Africa. The concept is simple: SleepOut connects travellers looking for unique and affordable accommodation with hosts who have a place to offer” said Mikul Shah, COO and co-founder.
SleepOut launched its BETA site in June 2012 and now aims to re-launch in 10 countries across Africa and the Middle East by late 2013 to automate accommodation offerings.