Cape Town-based local online shopping service, Yebo Fresh, has announced that it has secured a Series A funding from E4E, Mark Forrester, Dale Williams and the founders of cars.co.za.
The E4E partners also invested in the startup’s seed round in September 2019.
The company, launched in 2018 by Jessica Boonstra, delivers groceries to areas that are not reached by most formal retailers.
Growing rapidly due to an increase in demand, it has expanded to include over 35 full-time employees operating in a 1,200sqm warehouse.
Despite its humble beginning, the company has now secured an undisclosed amount of funding to speed up its growth.
Boonstra revealed that the investment will be used in expanding Yebo Fresh’s brand; hire a team of experts, refine its systems and processes, all in preparedness for national expansion.
Social and economic impact on Clients
Yebo Fresh provides its services to not only to private homes but also plays a pivotal role in growing the township economy, supplying goods to NGOs and supporting township businesses such as restaurants and Spaza shops.
Leaning heavily on tech and other processes, the enterprise offers a simple low-cost customer interface to its client base, assisting township business owners.
Additionally, by providing this vital service to township traders, store owners have the opportunity to continue trading in the comfort of their stores.
Even in the face of COVID-19 outbreak, Yebo Fresh applied new and refreshed branding strategies to its website, digital assets, and more, enabling it upscale.
“We are very excited about the growth and the many learnings we have experienced as a company, especially in a year where there was such little hope due to the pandemic.”, Boonstra said.
Alastair MacMurray and Ross McIlroy, co-founders of cars.co.za, commented that Yebo Fresh’s passion for improving people’s lives is what moved them to invest in the company.
“Yebo Fresh excited us as an investment opportunity because of its potential, through the use of good tech and service, to solve quality food accessibility and safety issues in South Africa’s townships.
We have really been encouraged by the team’s passion for making people’s lives better while creating a solid, sustainable business.”
Featured Image: Ventureburn
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