Cape Town based online shopping service Yebo Fresh has announced that it has secured investment from two SA based angel investors — Bas Hochstenbach and Frederik Gerner, who are the founders of early-stage investor E4EAfrica.
The startup did not reveal how much was invested, but it’s likely to be a small round — not more than in the low millions of rands.
Ventureburn sought comment from the startup’s founder but had not received a response at the time of publication.
Yebo Fresh said in a statement earlier today that the two investors were joined in the round by WooThemes co-founder Mark Forrester and Digital Planet CEO Neil Watson.
The startup was founded last year by serial entrepreneur Jessica Boonstra (pictured above, third from left, with her Yebo Fresh team) who is the co-founder of safety app Buzzer and Alchemize Consulting.
Yebo Fresh launched last year in Imizamo Yethu in Hout Bay, Cape Town
Yebo Fresh provides groceries in township communities. The company said it launched operations in Imizamo Yethu, Hout Bay last September. The startup said it was founded with an initial investment from Professor Stefan Allesch-Taylor.
The startup also operates in five other locations in Cape Town, namely Hangberg, Langa, Gugulethu, Khayelitsha and Mfuleni.
Yebo Fresh customer relations manager Faith Depa said in the statement that by buying in bulk directly from suppliers as well as by avoiding the fixed costs that other retailers must absorb, the startup’s model enables it to pass on benefits to its customers.
Yebo Fresh uses what it calls a “pop-up” sales model which makes use of a network of local entrepreneurs who assist customers with food orders and organising grocery delivery to easily accessible community hotspots like schools, day care centres and churches.
Featured image: Yebo Fresh team (Facebook)
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