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Home Venture Capital

South Africa SweepSouth startup secures US$11M funding

TechGist Africa by TechGist Africa
October 7, 2022
in Africa, South Africa, Venture Capital
Reading Time: 2 mins read
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SweepSouth, a South African startup that offers online home services and is active throughout Africa, has acquired US$11 million in funding for further expansion.

The Michael and Susan Dell Foundation, Naspers Foundry, and Futuregrowth Asset Management are all existing investors in the round, which was led by the gender-lens private equity firm Alitheia IDF.

Also read: South Africa’s landmark US$8.5B climate finance deal hangs in the balance

The round also saw the addition of new investors Endeavor Catalyst, Endeavor’s Harvest Fund II, Caruso Ventures, and E4E Africa.

SweepSouth is an online platform that offers on-demand home cleaning services and was launched in 2014 by Aisha Pandor and Alen Ribic.

It also operates in Kenya, Nigeria, and Egypt.

As we continue to scale in South Africa and expand our operations in Kenya, Nigeria, and Egypt, this additional funding round is crucial for our team, according to Pandor. “We’re eager to carry on SweepSouth’s work of linking clients with home service providers throughout the continent, developing a platform that empowers domestic workers and neighborhood tradesmen,” the company said.

Polo Leteka, the principal partner at Alitheia IDF, said, “We are happy to assist SweepSouth’s expansion as it grows its platform that significantly improves the financial and social results for domestic workers across Africa, the majority of whom are women.

Also read: Innovation is key to ensuring South Africa water security

The additional round of funding will enable the business to expand its South African workforce and infrastructure even further, launch new services in already-established markets and pursue both greenfield growth and acquisitions throughout the African region and beyond.

Related

Source: TechGist Africa
Tags: africaEgyptFuturegrowth Asset ManagementKenyaMichael and Susan Dell FoundationNaspers FoundryNigeriaSouth AfricaSouth Africa SweepSouth startup secures US$11M fundingsouth african startupSweepSouthventure capitalюжная-африкаجنوب-أفريقيا南アフリカ南非
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Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across.

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