Are you a fan of organic products? Well, finding them at the right price at the right time might soon just become a tad easier for South Africans.
South African online shop Faithful to Nature, which specialises in organic products, has completed a round of funding from Silvertree Capital valued at over R10-million.
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The deal, which was facilitated by global boutique investment advisory firm U-Start, includes financial investment to grow marketing spend and expand operations beyond consumer-focused online sales.
In addition, Silvertree and other companies within the Silvertree portfolio will support Faithful to Nature on topics including online marketing, IT systems, logistics and support functions.
In the press announcement, the deal is said to further help accelerate growth and reach of the already fast-growing online shop.
Robyn Smith, the founder and CEO of Faithful to Nature, says that the company is driven to become market leaders in the green retail space. Hello Cape Town.
Co-founder of Silvertree Capital Paul Cook added in a press release:
Robyn and the Faithful to Nature team have an unparalleled passion for natural and organic options, and this shines through in the product range and customer experience that Faithful to Nature offers Southern African shoppers. They have built a great company so far, and we are excited to be working together, with our deep experience in online commerce, to help the company become even more successful.
Founded in 2007, Faithful to Nature is said to offer customer service, same-day dispatch on most orders, and detailed product information ensuring peace of mind for customers.
Today, the company boasts an impressive revenue growth of over 70% year-on-year for the last three years, and a significant net profit in the last financial year.