TechInAfrica – South African online shopping service, Yebo Fresh, has secured investment from two SA-based angel investors, Hochstenbach and Frederik Gerner, the founders of E4EAfrica. According to the company, the angel investors were joined by Co-founder of WooThemes, Mark Forrester and CEO of Digital Planet, Neil Watson.
Speaking of the investment, it was disclosed at the end of last month. According to their agreement, Yebo Fresh and the two investors will not inform the size of the investment.
“It’s a good size funding round that allows us to seriously expand our technology and our footprint and to grow fast in the coming months,” Boonstra said.
According to Boonstra, the investment will be used to improve brand awareness and conversion at a much bigger scale, build its core technology, increase its logistics capacity, as well as improve its product offering.
Currently, Yebo Fresh is operating in several locations in Cape Town, including in Imizamo Yethu, Hout Bay, Hangberg, Langa, Gugulethu, Khayelitsha, and Mfuleni. In terms of employees, the company currently employs a core team consisting of seven individuals, part-timers, drivers, and brand ambassadors.
According to Boonstra, Yebo Fresh gathers orders all weekdays, orders in large batches, as well as deliveries once a week every Saturday. This strategy enables the firm to save fixed costs, optimizes delivery routing, as well as reduces stock levels and wastes.
“All of the benefits of our efficient low-cost model are passed on to the customer, which allows for a competitive price point and free delivery,” said Boonstra.