Yebo Fresh, a South African online store that delivers fresh food and groceries to neighbourhoods, 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 entrepreneur Jessica Boonstra started in her garage in 2018. It goes to places that most formal merchants don’t usually go to.
Through partnerships with a quickly growing network of spaza stores, places that sell ready-made food, and other township businesses, the company now delivers to more than 25 townships in the Cape Town and Johannesburg areas.
The CEO of Yebo Fresh, Boonstra, said, “The township market is growing quickly, and we’re happy to be at the forefront of its digital revolution.”With these funds, we’ll be able to expand into new product categories and market niches, update our systems and warehouse infrastructure, and look into new business partnership options with key industry players.
Also, it would help us learn more about data, making us stronger competitors in this large market niche.
With the extra money, the business will be able to grow even more, make big improvements to its physical and system infrastructure, and hire more people.