17
December
2021
|
10:00
Europe/Amsterdam

SweepSouth acquires Egyptian startup, Filkhedma

SweepSouth acquires Egyptian startup, Filkhedma

  • SweepSouth, will become one of a few startups operating in Africa’s four key tech markets
  • This acquisition will place SweepSouth in a strategically strong position to enter neighbouring geographies
  • This 100% acquisition almost doubles SweepSouth’s addressable market on the continent and paves the way for the launch of new services in South Africa, Egypt, Kenya and Nigeria 
  • This is a key intra-African acquisition by two tech startups in the same vertical

December 17; Cape Town, South Africa: South African-born SweepSouth, Africa’s largest online home services platform, is excited to announce its acquisition of Egyptian startup, Filkhedma. 

Filkhedma is Egypt’s leading home services marketplace operating across three cities and serving tens of thousands of customers with cleaning, maintenance, and beauty services while empowering over 2 000 service providers through technology with consistent incomes and professional development. 

“We are thrilled to have Filkhedma as part of the SweepSouth family,” says Aisha Pandor, CEO and Co-founder of SweepSouth. “It’s not only their services that align with ours, but also their values and culture. Just like us, Filkhedma is passionate about providing quality and trusted home services, while creating work opportunities for those who need it most.” Co-founder Alen Ribic added, “We’ve proven out our technology and operational expertise in numerous markets in sub-Saharan Africa, and this acquisition gives us the opportunity to extend that reach into Egypt, a huge market with millions of households. Coming together with the Filkhedma team represents the next phase of building SweepSouth into a global platform that will continue to expand our services not only on the continent but further abroad as well.” 

Omar Ramadan, CEO and Founder of Filkhedma, says: “We are happy with this incredible milestone and excited about joining forces with the SweepSouth team to fulfil our vision of empowering providers and delivering quality services in Africa and beyond. We already have well over 2 000 service providers on our platform and we’re confident that with the backing of SweepSouth, we will be able to sign up many more and expand into neighbouring countries, too.” 

Pandor notes that Ramadan will play a key role in the executive team of the combined entity and that all employees of Filkhedma will stay on. 

The acquisition means that SweepSouth will be one of a few African startups operating in the continent’s four key tech ecosystems of South Africa, Egypt, Kenya, and Nigeria. It also means that all markets will have access to new services almost immediately, while the company as a whole will be primed for further expansion into other parts of Africa and the Middle East.

Boilerplate

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 e-commerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.

Naspers is also focused on stimulating South Africa’s local tech sector through Naspers Foundry. This is a R1.4 billion investment targeting early-stage technology companies in South Africa that seek to address big societal needs. To help address youth unemployment in impoverished communities, in 2019, Naspers launched Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17 and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey enabling young people to enter the economy.

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 Foundry: 

Naspers Foundry is an early-stage business funding initiative focused on technology entrepreneurs in South Africa. Over the past year, Naspers Foundry invested R30 million in SweepSouth, an online home and business cleaning services platform that connects clients with trusted, reliable cleaners. Visit SweepSouth for more information.

After year-end, in May 2020, Naspers Foundry invested a further R100 million in Aerobotics, an agritech company that provides tree crop health and yield intelligence data to the agricultural industry using drone and satellite-enabled AI technology. Visit Aerobotics for more information.

In September 2020, Naspers Foundry closed a transaction in Food Supply Network on undisclosed terms. The independent B2B marketplace integrates ordering systems of manufacturers, distributors, and buyers (restaurants, hotels and retailers) of food products. Visit Food Supply Network for more information.

In November 2020, Naspers Foundry invested R45 million in The Student Hub, an edtech company that increases access to vocational education to large numbers of students whilst reducing the costs of delivery of education and training. Visit The Student Hub for more information.

In June 2021, Naspers Foundry invested R42 million in mobility technology company WhereIsMyTransport. The company maps formal and informal public transport networks and uses this data and technology to improve the public transport experience for millions of consumers in high-growth megacities globally.

Visit https://www.whereismytransport.com for more information.

Naspers Foundry invested R34 million in digital short-term insurance advice platform, Ctrl in July 2021. Ctrl provides a unique tech solution to the short-term insurance industry and consumers through its platform, connecting consumers, brokers and insurers in one place. The platform enables brokers to provide insurance advice digitally and allows underserved consumers to easily compare multiple quotes, obtain advice, accept cover and manage their policies.

Visit https://www.takectrl.co.za for more information.

Visit Naspers Foundry for more information.

About Naspers Labs:

Naspers Labs is the group’s flagship social impact programme designed to transform and launch South Africa’s unemployed youth into economic activity. Currently, in its pilot phase, Naspers has invested R69 million in Naspers Labs and has set up four labs.

To date, over 2,000 young people have completed the Naspers Labs programme and 956 employment placements have been made. As a result of Covid-19, Naspers Labs is expanding its offering to train youth in Cyber Security, Software Development and Cloud Computing, through remote learning.

Visit www.nasperslabs.org for more information.

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.

Read More

 

Media contacts

General enquiries
+ 27(0)21 406 2121
Press office
[email protected]
Investor relations
[email protected]