Investment company 88mph announced in June 2015 that they would stop their accelerator and investment programs, having fully invested their funds in 36 companies in Kenya and South Africa over a five-year period.
There was a caveat included in the statement – 88mph was still committed to investing in technology, and they "felt that they could grow and prosper in Africa".
Since that announcement, it appears that the company is taking another dip in the startup investment pool, announcing an investment in Ahoy, a travel business that, in their own words, helps expansion teams, small businesses, and frequent travellers book and manage their flights.
Ahoy was started by 88mph’s former Program Managers shortly after leaving the company, driven by a frustration with organising travel for team members for their travels across Afrika.
"This is of course not only an African problem, but managing travel around and into Africa for teams, with last minute needs, not to mention credit card issues, are on a different level for these markets so we believe the need is even greater here." said 88mph in a statement announcing the investment.
"We have followed Ahoy’s product development over the past year", the statement continues, adding "With this demonstrated ability to deliver value to customers, and build revenue, we decided to go in with an investment to help them grow further."Share this via: