Naspers buys R30 million stake in South Africa’s SweepSouth

Naspers Foundry, a Naspers startup investment arm with R1.4 billion targeted at South African startups, has bought a R30 million stake in South African tech start-up SweepSouth, an on-demand cleaning services platform.

This is Naspers’ first investment through its Foundry venture arm kicking off the firm’s commitment to support local talent and improve people’s daily lives.

According to 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.”

Co-founded in 2014 by Aisha Pandor and Alen Ribic, SweepSouth is one of South Africa’s growing ventures and has created jobs for more than 10,000 people since launch.

Naspers Foundry plans to back more South African startups in the coming months as well as follow on investments into its existing operations in South Africa, including Takealot, Superbalist, Mr D Food, OLX, Autotrader SA, Property24, and Media24.


Reads
100


Posted

in

by

Tags: