Financial terms are undisclosed.
GolfLan is targeting to raise about $5 million in 2017 with plans of investing $1 million in Southeast Asia. In July 2016, it acquired Dubai-based golf technology company, StayPrime, for $1 million. To date, it claims to have a user base in excess of 40,000 people, with the ability to facilitate booking of real-time golf tee slots at over 1,200 courses.
GolfLan’s maiden round of funding of $1 million in March 2015 was facilitated by participation from YourNest and multiple angel investors. It raised $1 million in November 2016 from existing investor YourNest Angel Fund, and African IT/ITES group, iSON Group.
Post acquisition, GolfGreedy will be integrated into the GolfLan group but continue to operate autonomously under its own brand. The deal also sees GolfLan expand its users base by 10,000, adding users from GolfGreedy’s platform in Singapore and nearby areas.
Dhruv Verma, founder and CEO, GolfLan said, “Singapore is an important golfing destination in Southeast Asia. And golf, as an industry, is also growing rapidly. This transaction clearly establishes our leadership in this region and industry. Golf lovers, through us, will get a host of choices to book a tee time and also experience a range of our world-class services.”
Founded by Dhruv Verma in 2011 with an aim of improving access to the sport while providing a platform for golf courses across continents, it enables users to conduct real-time booking of tee time across various regions.
On GolfLan’s cloud-based SaaS platform OTTO (Online Tee Time Organiser), golfers from anywhere in the world can book tee slots, apart from finding golf equipment and trainers. In addition, it offers an elite golfer’s card subscription that simplifies tee-time booking, enables access to tournament participation, and also reduces fees for playtime. It also offers a fully-loaded pro shop and learning lessons for golfers.
GolfGreedy co-founder Gerald Koh, who has previously worked as an independent journalist covering golf and motoring affairs, said, “We started as a golf course aggregator to help golfers pursue their passion to get a good round at reasonable prices. Today, we are still very much focussed on doing that, albeit with more intelligence built in so that we can add value to the customer’s golf search and booking journey.”