Yebo Fresh, a South African e-commerce startup that delivers fresh food and groceries to communities, has raised US$4.5 million in pre-Series A equity funding.
In addition to Harvest, the local investment fund of Endeavor, and impact investor Elea Foundation from Switzerland, Enza Capital led the round. E4E Africa also made new investments.
Yebo Fresh is an online grocery delivery service for township communities that was introduced in 2018 and is based in the garage of entrepreneur Jessica Boonstra’s house. It serves areas that are typically underserved by most formal merchants.
Through partnerships with a quickly expanding network of spaza stores, prepared food outlets, and other township businesses, the firm now provides delivery to more than 25 townships in the greater Cape Town and Johannesburg areas.
The CEO of Yebo Fresh, Boonstra, stated that “the township market is growing quickly and we are happy to be at the forefront of its digital revolution.” “With the help of this finance, we will be able to develop into new product categories and market niches, upgrade our systems and warehouse infrastructure, and look into new business alliance options with key industry players. Additionally, it would help us gain more data insights, which will reinforce our competitive advantage in this sizable market niche.
With the additional investment, the business will be able to grow even more, considerably improve its physical and system infrastructure, and recruit new personnel.
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