Naspers has made the first investment through its new Naspers Foundry startup fund, buying a stake in Internet-based domestic cleaning service SweepSouth for $2.1 million (R30-million).
SweepSouth is an online cleaning services platform that connects clients with domestic cleaners. The percentage stake it acquired in the company was undisclosed.
Naspers Foundry, which was launched in October 2018, is a $70 million (R1.4-billion) fund that invests in South African technology start-ups and provides support to technology entrepreneurs to develop their businesses.
SweepSouth was co-founded in 2014 by Aisha Pandor and Alen Ribec and has created jobs for more than 10 000 people, according to Naspers. The online platform connects clients to pre-vetted cleaners in major cities in South Africa.
SweepSouth cleaners have full flexibility over their hours and availability and benefit from pay rates “significantly higher” than the national minimum wage.
Pandor said the company will use the investment from Naspers Foundry to expand into other home services and grow into markets beyond South Africa. “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, while also creating meaningful employment opportunities,” she said in a statement.
