$4.5 Million…boosted by South Africa’s Grocery Delivery Startup – Yebo Fresh in a Pre – Series A Equity Funding Round

By Abdul Rahman Bangura-

Photo Credit: PxHere

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The pre-series An enterprise was overseen by Enza Capital with participation from Swiss Impact investors Elea Foundation, and Harvest, the local enterprise fund of the worldwide Endeavor entrepreneurs.

Other re-investments have moreover been attained from existing investors incorporating E4EAFrica, Yebo Fresh’s biggest investor. Private
investment vehicle Simple Capital was the lead consultant on the deal.

Yebo delivers groceries and food on order to South African townships, with the corporation hoping to thrive its market to march the increasing township population.

“This funding will allow us to grow into new product categories and market segments, expand our systems and warehousing infrastructure, and explore further partnership opportunities with strategic players in the market. It will also assist us in gathering even more data insights, further strengthening our unique position in this massive market segment, “ Jessica Boonstra, Yebo Fresh CEO noted.

Jessica established Yebo Fresh in 2018 and strives to utilize the bodily and digital vacuum as routes to rotate delivery in South African townships.

Small companies make their orders via WhatsApp or through the Yebo Fresh team of field sales agents. This serves to simplify the purchasing procedure and render it quickly for orders to be fulfilled. The regular about-face time is 24 hours.

The startup also gives a buy-now-pay-later option. This service leverages customer understandings and algorithms and unlocks the door to informal enterprises that do not presently have access to established loans.

John Lazar, general partner at Enza Capital said, ”We are thrilled to back the exceptional Yebo Fresh team. They are fundamentally changing the way essential goods are provided to the township market, an underserved but vibrant and growing segment of the South African economy.”

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent