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Friday, June 5, 2015

Global Founders Capital Invests In Middle East Hotel Booking Startup Yamsafer

Global Founders Capital, the European investment fund set up in 2013 by Rocket Internet founders Oliver and Marc Samwer, has led a $3.5 million Series B funding round in Middle East hotel booking startup Yamsafer. Existing investor Sadara Ventures also participated in the round, along with some undisclosed U.S. based investors.

It’s GFC’s first investment in the online travel in this region, although Rocket Internet has previously invested in Namshi, a regional online fashion retailer — and has multiple global travel investments to its name such as Traveloka in Indonesia, or Germany’s Trivago (now owned by Expedia).

Yamsafer is located in the West Bank — and claims this is the first “foreign-led venture capital investment of its kind in a Palestine-based company”. It plans to use the funding to accelerate growth and expand its team. Currently it has some 4,000 properties bookable via its platform.

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