February 12, 2016 - Assignment

Travelstart raises investment round from MTN and Amadeus Capital Partners

Travelstart, Africa’s largest online platform for booking flights, hotels and rental cars, has secured $40 million in funding from MTN and Amadeus Capital Partners. Travelstart was founded in Sweden in 1999 and the African part of the business was spun off in 2010. The company serves more than 2 million monthly users in 16 countries in Africa and the Middle East.

Launched in 1994, the MTN Group is a multinational telecommunications group, operating in 22 countries. The MTN Group is listed on the JSE Securities Exchange in South Africa.

Amadeus Capital Partners is a global IT and technology investor. Since its launch in 1997, the company has raised over $1bn for investment and backed more than 100 companies.

Travelstart was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Niklas Bogefors, primarily assisted by Erik Hensfelt, Kristoffer Roos and Malin Kockum. Martin Nilsson and Niklas Hagbard assisted regarding tax matters.