Naspers Foundry Fund Makes First Investment Of USD 2 Mn In SA’s Startup SweepSouth
Cape Town-based Naspers’s Foundry investment fund has today made known its first USD 2 Mn investment in a South African tech start-up SweepSouth.
SweepSouth is a cleaning service company that connects clients to on-demand domestic cleaners via an online booking platform.
This is the fund’s first investment since Naspers announced its commitment to supporting talented and ambitious South African entrepreneurs who are leveraging on technology to better people’s lives.
While unveiling the fund in October 2018, Naspers said the fund , “aims to fund and support South African technology start-ups seeking to address big societal needs.”
Founded by Aisha Pandor and Alen Ribec in July 2014, SweepSouth claims to have recorded exceptional growth and has employed over 10,000 people.
“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,” said SweepSouth co-founder Pandor.
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.”
Dijk further stated that Naspers aims to invest in more South African start-ups in the near future.
Featured Image Courtesy: Western Cape
