20 Jun 2019
Naspers Foundry invests R30 million in SweepSouth
Naspers Foundry invests R30 million in SweepSouth
- Naspers invests R30 million in online platform which connects clients to domestic cleaners
- Naspers’ R1.4 bn start-up fund aims to boost South Africa’s tech sector
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 trusted, reliable domestic cleaners. The investment kicks off Naspers’ commitment to supporting talented and ambitious entrepreneurs in South Africa 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.
SweepSouth, co-founded in 2014 by Aisha Pandor and Alen Ribic, has established itself as a fast-growing tech start-up. The exceptional growth of the business since its launch has created jobs for more than 10,000 people, with the platform matching demand for trusted cleaning services that were previously unfulfilled - the online platform connects clients to pre-vetted cleaners across major cities in South Africa. 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.
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.”
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.”
“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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For more information contact:
Shamiela Letsoalo, Media Relations Director
Tel: +27 11 289 3750
Mobile: +27 78 802 6310
Email: [email protected]
About Naspers
Naspers is a global consumer internet group and one of the largest technology investors in the world. Operating and investing in countries and markets across the world with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. The group operates and partners a number of leading internet businesses across Central and Eastern Europe, Africa, the Americas and Asia in sectors including online classifieds, food delivery, payments, travel, education, health, and social and internet platforms.
Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, BYJU’S, Codecademy, eMAG, Honor, ibibo, iFood, letgo, Media24, Movile, OLX, PayU, SimilarWeb, Swiggy, Takealot, and Udemy.
Similarly, hundreds of millions of people have made the platforms of its associates a part of their daily lives: Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) and DeliveryHero (www.deliveryhero.com; Xetra: DHER)
Today, Naspers companies and associates help improve the lives of around a fifth of the world’s population. Naspers actively searches for new opportunities to partner exceptional entrepreneurs who are using technology to address big societal needs.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).
For more information, please visit www.naspers.com
About Naspers
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies. These include Takealot, Mr D Food, Superbalist, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ), a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has a level 1 American Depository Receipt (ADR) programme which trades on an over-the-counter basis in the United States of America.
For more information, please visit www.naspers.com.
Naspers Labs
In 2019, Naspers Labs, a youth development programme designed to transform and launch South Africa’s unemployed youth into economic activity, was launched. Naspers Labs focuses on digital skills and training, enabling young people to pursue tech careers.
Response to COVID-19
Naspers contributed R1.5 billion of emergency aid to support the South African government’s response to the COVID-19 pandemic. This contribution consisted of R500 million towards the Solidarity Fund and R1 billion worth of PPE sourced and distributed to South Africa’s front-line healthcare workers. In addition, Naspers contributed R6.9 million to the Nelson Mandela Foundation's EachOne FeedOne programme to support families who COVID-19 has impacted with meals for a year.