The Venture Codex

Participated · Equity · Oct 2019

SweepSouth operates an online on-demand home cleaning platform that links clients with domestic workers and local tradespeople. The company was launched in 2014 by Aisha Pandor and Alen Ribic and is active in South Africa, Kenya, Nigeria and Egypt. Management says the business aims to scale further in South Africa and expand operations in Kenya, Nigeria and Egypt while developing a platform that empowers predominantly female domestic workers. The additional funding is intended to expand the South African workforce and infrastructure, launch new services in existing markets, and pursue greenfield growth and acquisitions across Africa and beyond. Investors and company statements emphasize improving the financial and social outcomes for domestic workers as a core goal. SweepSouth operates a marketplace that formalises informal domestic and maintenance work by matching clients with vetted service providers ("SweepStars") for cleaning, gardening, pool care, heavy lifting, repairs and commercial sanitation. The company has expanded its service set to include commercial sanitation in response to Covid-19, creating additional revenue channels and addressing sanitation gaps. SweepSouth reports thousands of SweepStars on its platform, 71% of whom were previously unemployed and 29% underemployed; 84% are primary household breadwinners. The platform offers services in South Africa’s four metros: Johannesburg, Pretoria, Durban and Cape Town. Co‑founded in 2014 by Aisha Pandor and Alen Ribic, the company emphasises dignified, flexible work and social impact while pursuing growth. Financially, SweepSouth previously raised over R60-million in 2019 and has now received a new venture capital investment from Futuregrowth. SweepSouth is an online platform that connects clients with domestic cleaners; it was founded in 2014 by Aisha Pandor and Alen Ribic in South Africa. The company offers on-demand cleaning bookings and has expanded operations across seven South African cities. SweepSouth reports it has tripled its customer base, bookings, and revenue this year and has created about 15,000 job opportunities for domestic workers. It partners with Simply to provide insurance for cleaners and with Caveat Legal to run ‘The Warrior Project’ offering legal help and advice to cleaners. The company is expanding into new verticals beyond domestic services and will use funds to grow SweepSouth Shop, an online platform for buying a range of growth products. SweepSouth also plans to launch SweepSouth Connect to offer plumbing, locksmiths, electrical, childcare and handyman services. SweepSouth is an online cleaning services platform founded in 2014 by Aisha Pandor and Alen Ribic that connects clients with domestic cleaners. The company positions itself as an emerging-market focused platform aiming to expand into other home services and grow beyond South Africa. Co-founder Aisha Pandor said the partnership with Naspers Foundry will help achieve that vision and create meaningful employment opportunities. In October the startup closed a funding round valued at over R60-million, which included a R30-million investment from Naspers Foundry. Previously SweepSouth raised R10-million in 2016 and an undisclosed Series A in 2017 led by Smollan with participation from Draper Darker Flow, Identity Development Fund Managers, CRE venture capital and DJ Black Coffee. The articles do not report revenue or user metrics. SweepSouth is a Cape Town–based on-demand cleaning service that matches customers with cleaners through a tech-enabled platform. The company has positioned itself as a leading tech startup in South Africa’s on-demand services space and has been described as the “Uber of cleaning services.” SweepSouth plans to expand its rapidly growing national footprint and to modernise the cleaning-services industry while creating jobs. The startup has created thousands of job opportunities in recent months, logged over 100,000 hours of cleaning, and grown to employ 10 internal staff with plans to hire more. Financially, SweepSouth has attracted external capital, including seed funding and participation in the 500 Startups accelerator, and most recently secured a new R10-million investment. Co-founder Alen Ribic said the company’s overall valuation is at “very high multiples.”

Led · Equity · Nov 2018

SnapnSave operates a mobile app that enables shoppers to earn discounts and cashback by snapping photos of their till slips. The platform works with leading brands including Coke, Pioneer Foods, Unilever and SC Johnson and is used in over 200,000 grocery retail points in South Africa. Founded in 2015 by Mark Bradshaw with co-founder Tina Fisher, the startup has grown to over 350,000 users, seen a 500% increase in activity, and processed more than 1.5 million till slips. Over R14 million in cash rewards has been returned to consumers and the company reports revenue growth of over 400% since its first year; it currently employs 25 staff. Vunani Capital’s investment will be used to grow the shopper and vendor base as SnapnSave prepares for a planned Series A in August next year. Past funding includes a R14-million commitment from Kalon Venture Partners and the Smollan Group in 2017, including a further R7-million tranche that increased their combined stake to over 50%. SnapnSave operates a mobile app that enables shoppers to claim discounts by photographing their till slips, and the startup has helped users redeem one million till slips. The app is integrated with major clients Momentum and Discovery to serve Multiply and Vitality loyalty members. Founded in 2015, the company has grown its headcount to 25 staff (from 15 a year earlier) and is nearing break-even. Management is negotiating white‑label reward services with a fishing group, a retail outlet and a local bank. The team previously considered regional expansion into three Asian and African markets but has since decided to focus on the South African market; the new funding may be used to grow locally or to fund future expansion. SnapnSave operates a mobile cashback coupon app that lets shoppers receive cash back by snapping a picture of their till slip. Its till-slip technology requires no point-of-sale integration, which the company says enables easy scaling into new markets. The startup has given shoppers ZAR3.5 million (about $262,000 USD) in cashback and has nearly 200,000 app installations. SnapnSave raised ZAR14 million (approximately $1 million USD) to grow the app and expand operations. Management plans to increase downloads to 500,000 in South Africa this year and to enter markets in Asia and other African regions. CEO Mark Bradshaw highlighted growing consumer adoption of mobile-based coupons amid current economic conditions.