Investec consortium buys South Africa's LekkeSlaap, the local Airbnb rival that outlasted the giant
What's the deal? InvestecDealroom has a profile for this one. Try Dealroom → and a consortium of South African investors have acquired LekkeSlaapDealroom has a profile for this one. Try Dealroom →, the country's largest locally owned online accommodation booking platform, for an undisclosed sum. The deal marks the exit of co-founders Jonathan Womersley and Marcel van de Ghinste after 17 years.
Who's buying? The consortium is co-led by Cape Town private equity firm Bellair Road Investment PartnersDealroom has a profile for this one. Try Dealroom → and Janic CapitalDealroom has a profile for this one. Try Dealroom →, the Dippenaar family's investment vehicle. Investec, the Ferreira Family OfficeDealroom has a profile for this one. Try Dealroom →, and the Moolman Family OfficeDealroom has a profile for this one. Try Dealroom → invested alongside them.
The backers carry significant weight in South African finance: GT Ferreira and Laurie Dippenaar co-founded Rand Merchant BankDealroom has a profile for this one. Try Dealroom → in 1977 and later built FirstRandDealroom has a profile for this one. Try Dealroom → into one of Africa's largest financial services groups. The Moolman family, active in property since 1967, owns roughly 1.2 million square metres of commercial property.
From garage to market leader. Womersley and Van de Ghinste launched their first platform, TravelGround.comDealroom has a profile for this one. Try Dealroom →, from a garage in 2009 with R12,000 in capital and 300 listings. In 2013 they added LekkeSlaap — Afrikaans for "sleep well" — which went on to replace the original brand.
The group now lists more than 40,000 properties across Southern Africa and has managed bookings for over nine million guests. It has been named South Africa's Leading Online Travel Agency at the World Travel Awards for three consecutive years and held its ground after Airbnb entered the local market in 2015.
What changes? Chief executive officer Frans Joubert and his team have invested in the deal and will keep running the business. The board gains two appointments: Herman Bosman, chairman of OUTsurance GroupDealroom has a profile for this one. Try Dealroom → and former CEO of RMB HoldingsDealroom has a profile for this one. Try Dealroom →, as chairman; and Robert Paddock, co-founder of GetSmarterDealroom has a profile for this one. Try Dealroom →, as a director.
What's the endgame? The deal keeps the platform in South African ownership and funds expansion across Southern Africa. Joubert said the company plans to invest "more deeply in technology and localisation, and create even better experiences for our guests and hosts."
Bosman framed the sale as validation of local entrepreneurship. "LekkeSlaap is a great example of what South African entrepreneurs can build when they combine a strong customer proposition with persistence and ambition," he said.
The signal: South Africa's online travel market was valued at roughly $2.8 billion in 2025, and a homegrown platform that survived Airbnb's arrival is now being backed by the country's banking establishment. The deal shows local capital betting on local champions rather than ceding the sector to global players.
Read more: launchbaseafrica.com
Image credit: LekkeSlaap
