Nadya Eka Lestari
TechInAfrica — An online on-demand and regular home services provider, SweepSouth, has raised R50 million in a new investment recently. Regarding the investment, the company says that the company will use it to grow its market share in South Africa and also launch additional services following the closure of a funding round.
The new investment to the company came from the Michael & Susan Dell Foundation for US$1 million which equals R14.5 million. The investment follows the prior funding announcement in June that an R30 million investment came from Naspers Foundry, a startup fund focused on encouraging the technology sector in South African.
Aside from Naspers Foundry and the Dell Foundation, existing investors Smollan, Vumela, CRE VC which previously named Africa Angels Network, and a musician and venture capitalist, Black Coffee, have reinvested into SweepSouth. This round, it has brought more than R50 million of investment in total.
Since it started in 2014, SweepSouth remarked that it has recorded ‘exceptional growth’. From the closure of the previous funding round in 2017, SweepSouth has expanded its businesses and now operates in seven South African countries.
According to a statement, SweepSouth said, “The company has grown 26% since the announcement on June 2019 of the investment by Naspers Foundry.”
Working alongside the insurtech startup, Simply, SweepSouth has been able to provide accidental death and disability cover at zero cost to domestic cleaners who work through SweepSouth. The startup also collaborated with Caveat Legal for The Warrior Project launching that provides legal help and advice for domestic workers.
SweepSouth has tripled its customer base, bookings, and revenue since its last funding round. “The business growth has afforded SweepSouth the opportunity to create more almost 15,000 employment opportunities for previously unemployed and underemployed domestic workers.”
Aisha Pandor, Chief Executive and Co-founder of SweepSouth, said that this worker-centric approach will be regarded as the main consideration as the business expands into a broader market and offering services beyond domestic services.
“The funding received during this round will be instrumental in achieving SweepSouth’s strategic goals going forward.
“In addition to expanding the markets we operate in, in South Africa and elsewhere on the continent, we are also looking forward to a formal announcement regarding our new platform, SweepSouth Connect, which offers services like handymen, plumbers, electricians, locksmiths, carpet cleaners, and nannies, as well as the growth of our online SweepSouth Shop which sells a range of home products,” Pandor concluded.
Source: Businesstech.co.za
