Wikipedia celebrates its 20th birthday in January, another milestone for the world’s largest free online encyclopedia. The Wikimedia Foundation announced that the encyclopedia officially…
One of SA’s biggest music icons DJ Black Coffee has invested in domestic hiring platform SweepSouth during its Series-A funding round.
“We connected with him (Black Coffee) through one of our investors and he liked the business model, he liked the growth of the company, he liked what we were trying to accomplish in empowering women and empowering domestic (workers),” said Aisha Pandor in an interview with Ventureburn.”
The Series-A round was led by international retail solutions company Smollan and also include Draper Darker Flow, Identity Development Fund Managers and CRE venture capital.
The startup will use current investments to grow throughout SA, continent
While Pandor said she did not feel comfortable sharing the amount of equity given to the investors, revealing only that the amount raised was a “seven-figure amount in US dollars”.
Since its previous funding round, SweepSouth has used its momentum to expand across SA and has launched its native app and grew its revenue by six times.
This time, SweepSouth will utilise its current investments to grow further throughout South Africa and the continent, by leveraging Smollan’s footprint which covers more than 36 international markets.
“The investment with Smollan was a strategic investment in a sense that there’s some synergy in terms of the business that we do,” said Pandor, who co-owns the company with Alen Ribic (pictured with Pandor above).
“Part of the strategic nature of that investment is to also try and leverage those networks they have in different markets. Our next step apart from growing our SA operations is to create a subset of their operations in different markets and just basically grow,” she continued.
She said the company will this year begin expanding to its first international market and expects that the company will expand to further markets by 2018.