A South Africa-focused start-up funding initiative, Naspers Foundry has announced that it would invest $2.4 million in the country’s tech startup, SweepSouth.
The Foundry is an initiative that helps talented and ambitious South African technology entrepreneurs develop and grow businesses that improve people’s daily lives.
The investment reiterated Naspers’ commitment towards supporting ambitious and talented in South Africa, which uses technology to improve people lives.
Naspers Foundry was launched at the South Africa Investment Conference in October 2018. It is a $9.8 million start-up fund aimed at boosting the country technology sector.
It also aims at providing fund.
The receiver, SweepSouth, is a fast growing technology start-up co-founded by Aisha Pandor and Alen Ribec. The business since it was launched in 2014 has grown exceptionally and has created jobs for more than 10,000 people.
Quoting one of the founders of SweepSouth, Aisha Pandor:
“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 — 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.”
Also speaking the Chief Executive of Naspers, Bob van Dijk:
“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 excited about the potential technology has to improve people’s lives, and will continue to invest in our existing operations in South Africa”