Naspers Foundry today announced its first deal, with a R30 million investment in South African tech start-up SweepSouth.
SweepSouth is an online cleaning services platform that connects clients with domestic cleaners.
In a statement, Naspers says the investment kicks off its commitment to supporting talented and ambitious entrepreneurs in SA who are using technology to improve people’s daily lives.
Launched at the South Africa Investment Conference in October last year, Naspers Foundry is a R1.4 billion start-up fund aimed at boosting the South African technology sector. As well as providing much needed funding, Naspers Foundry will help talented and ambitious South African technology entrepreneurs develop and grow their businesses, the company says.
SweepSouth, co-founded in 2014 by Aisha Pandor and Alen Ribec, has established itself as a fast-growing tech start-up.
Naspers says the exceptional growth of the business since launch has created jobs for more than 10 000 people, with the platform matching demand for cleaning services that was previously unfulfilled.
The online platform connects clients to pre-vetted cleaners across major cities in SA. 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, the start-up company says.
SweepSouth co-founder Pandor says: “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, while also creating meaningful employment opportunities.”
Bob van Dijk, Naspers chief executive, says: “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.
“Naspers Foundry is off to a good start and we aim to announce more backing for South African start-ups in the coming months. We are excited about the potential technology has to improve people’s lives, and will also continue investing in our existing operations in South Africa, including Takealot, Superbalist, Mr D Food, OLX, Autotrader SA, Property24, and Media24.”
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