Article in BusinessWorld Hotelier, published on 2019-07-10
HotelOnline is a travel tech scale-up, started by Norwegian entrepreneurs Håvar Bauck and Endre Opdal, both living in Kenya.
HotelOnline, with an aim to strengthen its position in current core markets, delivering outstanding quality to their hotel partners and creating more exceptional performance cases has raised $ 320,000 in the recent round of funding.
While most participants were current shareholders increasing their investments, two notable new investors, Shravan Shroff and Trond Riiber Knudsen, joined in. Shravan is the first investor in OYO Rooms, and the Co-founder of India’s first angel investor-backed start-up accelerator, Venture Nursery. Whereas, Knudsen is a former McKinsey top and Norway’s most active start-up investor.
Shravan Shroff, known as the first investor in OYO Rooms, and the co-founder of India’s first angel investor-backed startup accelerator, Venture Nursery, has been inducted into Board of Directors of HotelOnline.
HotelOnline is a travel tech scale-up, started by Norwegian entrepreneurs Håvar Bauck and Endre Opdal, both living in Kenya. The company provides solutions for e-commerce and digital marketing to more than 1,500 hotels in 18 markets across Africa and South Asia. The company’s operations are breaking even in 2019, as the company turns profitable.
“With Shravan, our Board becomes an even stronger team of recognized international professionals, providing oversight and guidance as we transition from a start-up to a profitable scale-up in 2019”, says Håvar Bauck Founder, CFO and Deputy Chairman, HotelOnline. “Our first professional investor made his fourth investment in the company since 2016. Several of our major investors from Norway and Nigeria have significantly increased their shareholding”, he added.