End of an era for popular South African tech giant that started in a garage 17 years ago
South African accommodation and hospitality platform LekkeSlaap has been acquired by a consortium of leading local investors, with its co-founders exiting the business.
The acquiring consortium is co-led by South African investment firms Bellair Road Investment Partners and Janic Capital, alongside the Ferreira Family Office, the Moolman Family Office and Investec.
Bellair Road Investment Partners focuses on long-term growth investments, with an investment track record that includes Montego Pet Nutrition, Econofoods, Freedom of Movement and others.
Janic Capital is the Dippenaar family’s investment vehicle, led by Adriaan Dippenaar.
PSG Capital and ENS supported the transaction and advised the sellers, while Werksmans, Deloitte and Scrums.com advised the acquiring consortium, the group said.
It noted that its executive management team has also invested alongside the consortium and will continue to lead the business.
However, LekkeSlaap co-founders Jonathan Womersley and Marcel van de Ghinste, alongside other long-standing shareholders, will be exiting the business.
The platform started as a garage-based travel tech startup in 2009 and ultimately grew into one of South Africa’s most recognisable online travel brands.
LekkeSlaap launched in 2013 as South Africa’s first Afrikaans leisure accommodation booking platform.
Initially designed for Afrikaans users, the platform quickly evolved to attract both local and international English-speaking visitors and now offers bilingual services.
According to the group, it now features more than 40,000 properties throughout Southern Africa and has served over 9 million guests since its inception.
Despite Airbnb’s 2015 entry into the local market, which posed a significant challenge to traditional accommodation platforms, LekkeSlaap remains one of South Africa’s largest accommodation platforms.
Users and accommodation hosts frequently commend the platform for its competitive pricing, extensive selection of accommodations, high-quality customer support, and reasonable commission structure.
The company has also been recognised as South Africa’s Leading Online Travel Agency at the World Travel Awards for the last three consecutive years.
“To see LekkeSlaap grow from a small startup into a brand used and loved by millions of South Africans has been incredibly rewarding,” said Womersley.
According to the group, the acquisition keeps the company in South African hands while positioning it for further growth.
The group said its ambitions are to expand further across Southern Africa, invest more in technology and localisation.
LekkeSlaap will continue to be led by CEO Frans Joubert and the existing executive team, ensuring continuity.
“To support the executive team through this next growth phase, LekkeSlaap has strengthened its board by appointing two prominent South African business leaders known for investing in and scaling high-growth companies alongside members of the investment consortium,” it said.
Corporate veteran and Chairman of the OUTsurance Group and Fortress Real Estate, and former CEO of RMB Holdings and RMI Holdings, Herman Bosman, has been appointed Chairman of LekkeSlaap.
Robert Paddock, a prominent edtech entrepreneur and co-founder of GetSmarter and Valenture Institute has also joined the board.
“Both Herman, through Atelier Partners, and Robert have also invested alongside the new investors,” the group said.
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