Naspers Foundry invests R30m in SA startup
DURBAN - Naspers Foundry has announced its first deal, with an R30 million investment in South African tech startup SweepSouth.
SweepSouth is an online cleaning services platform that connects clients with trusted, reliable domestic cleaners.
The investment kicks off Naspers’ commitment to supporting talented and ambitious entrepreneurs in South Africa who are using technology to improve people’s daily lives.
Naspers Foundry is a R1.4 billion start-up fund aimed at boosting the South African technology sector. Naspers Foundry will help talented and ambitious South African technology entrepreneurs develop and grow their businesses.
SweepSouth, co-founded in 2014 by Aisha Pandor and Alen Ribec, has established itself as a fast-growing tech start-up. The exceptional growth of the business since launch has created jobs for more than 10,000 people, with the platform matching demand for trusted cleaning services that was previously unfulfilled - the online platform connects clients to pre-vetted cleaners across major cities in South Africa.
SweepSouth cleaners, known as “SweepStars”, have full flexibility over their hours and availability, and benefit from pay rates significantly higher than the national minimum wage.
SweepSouth co-founder, Aisha Pandor said, "We are ecstatic about the Naspers Foundry investment in SweepSouth, and believe the partnership will help us achieve our vision of expanding into other home services and growing beyond the South African market. We see ourselves as an emerging market-focused platform that aims to serve the many professionals who don't have the time to source the services we provide, whilst also creating meaningful employment opportunities".
Bob van Dijk, Naspers Chief Executive, said, "We are excited to announce our first Naspers Foundry investment and to welcome SweepSouth to the Naspers family. We are inspired by entrepreneurs like Aisha and Alen who use innovative technology to improve people’s lives. We know what it takes to scale tech businesses, and the team is looking forward to working together with SweepSouth to help them do that".
BUSINESS REPORT ONLINE