Timbu offers to buy equity in struggling traveling agencies

Timbu.co.ke, an Online Kenyan travel agency, is offering to buy equity from the founders and investors of local travel agencies, particularly those that have been adversely affected by the Covid-19 pandemic.

The company is tapping into the need for cash funding, and in a bid to expand in the Kenyan market, is making offers.

The chief media representative of the company Uforo Essien said, “We are eager to see agencies affected by the pandemic get back in business and become more productive. This funding offer is our way of strengthening and showing support to the travel industry in Kenya. We also see this as a good time to invest in the local travel industry, as many shareholders will be looking to exit the industry. We feel that there is still huge potential, and we can buy into the market now”.

Companies that want to benefit from this fund are expected to submit a proposal to kenya@timbu.com, which must contain the following details:

  1. Company name
  2. Company URL, if any
  3. Name and email of the founder(s)
  4. Role of each founder
  5. What your company is making and the problem it aims to solve in Kenya
  6. How your company managed its operations during the pandemic?
  7. Company financials, or at least 12 months prior to the submission date

All applications should be submitted to kenya@timbu.com with the subject line “Kenyan Travel Agency Funding Application”.

Timbu.co.ke is backed by major investors like Omidyar Network, EchoVC, and Spark.

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