South Africa: Online retailer secures series A funding

Online retailer Yebo Fresh, a Cape Town-based company that delivers food and household goods to communities and organisations in the area, has shown exceptional growth during the last few months.

Yebo Fresh originated in 2018, and was inspired by the need for transformation in the world of online shopping, as well as making quality, fresh food and household goods accessible to all. Since their humble beginnings in the garage of founder Jessica Boonstra’s home, the company now occupies a 1,200 sqm warehouse where over 35 full-time employees work to produce food and grocery orders for residents all over Cape Town.

Following the initial investments in the first seed by Professor Stefan Allesch Taylor, and the second seed in September 2019 by players like Bas Hochstenbach, Mark Forrester, Neil Watson and SweepSouth founders Aisha Pandor and Alen Ribic, Yebo Fresh is now gearing up for even more expansion with series A funding. E4E, Mark Forrester, Dale Williams, and the founders of cars.co.za are the funders for this round.

E4E managing partner Philani Sangweni says, “Yebo Fresh aligns perfectly with our stated mission of growing startups that aren’t just good businesses but are also transformative and create jobs. We’re extremely proud to be playing a leading part in their growth journey.”

As one of the first investors to back Yebo Fresh, entrepreneur Mark Forrester was inspired by the determination shown by the team when faced with the pandemic, ”I backed Yebo Fresh in their first round of investment, before the pandemic hit. To see the team mobilise during lockdown to help feed vulnerable families – levelling up their systems and logistical infrastructure and showcasing an anti-fragile determination – was truly inspiring.

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