South African ecommerce player Wantitall has just closed a deal which will see it invest an undisclosed sum of money in flash sales specialist CityMob.
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According to Business Tech, the investment is designed to help CityMob improve its logistics, warehousing and systems as well as giving it access to more potential customers.
Wanitall has steadily climbed the South African ecommerce ranks over the past few years, stocking electronics, toys, jewellery and books, meaning that it competes with heavy hitters in the space such as Kalahari and a Takealot.
“We’re extremely excited about this new partnership, it will allow us to upscale quickly and ensure a world-class logistics offering,” CityMob co-founder Luke Jedeiken said.
“Citymob was looking for partners that could bring with them the required expertise and help us grow, and we believe we’ve found the perfect fit with Wantitall.”
Wantitall CEO Justin Drenan meanwhile said that the company decided to strike the deal because it had been looking for a partner to help it make the most of its new warehousing system.
“After meeting and evaluating numerous opportunities, we have found a partner with massive growth prospects and a shared vision whom we are delighted to include within our existing warehouse infrastructure,” Drennan said.
“We want to cement our position as Africa’s number-one design destination,” Jedeiken said. “This new and powerful partnership with Wantitall simply strengthens our ability to do that.
After starting out as a group-buying site, CityMob progressed into flash sales on curated design goods, including clothing, decor and art,
