South African’s Cleaning startup, SweepSouth, receives funding from Futuregrowth

South Africa’s cleaning startup, SweepSouth, has received an undisclosed amount from Futuregrowth Asset Management.

The online services company raised $3.3 million in a funding round in October last year and got another $2.1 million from global internet group, Naspers, in June 2019.

According to Amrish Narrandes, Head: Unlisted Equity Transactions at Futuregrowth, “SweepSouth is an early-stage business disruptor that, instead of solving a Silicon Valley problem, is solving South African-specific problems. The company has taken a large segment of the informal sector, which is one of the biggest employers in South Africa, and formalised it, giving people protection and security in their working environments.”

SweepSouth stood out for Narrandes because it met all the criteria Futuregrowth has identified as necessary in early-stage companies: SweepSouth has a large addressable market in the informal sector, it is incredibly disruptive, it is having a positive social impact on the economy and the management team has proven credentials in building the company to where it is now, as well as engaging in ongoing innovation.

SweepSouth provides dignified work opportunities for thousands of SweepStars, 71% of whom were previously unemployed and 29% of whom were underemployed. A significant 84% of SweepStars are primary breadwinners at home, making the income they earn through the platform vital in enabling them to support their families.

Says Pandor, “SweepStars can dictate where and when they would like to work, earn up to 80% of the booking fee (plus tips), and learn to use technology to unlock the power of a device like a smartphone so that it becomes a tool that provides access to work.”

SweepSouth was co-founded in 2014 by Aisha Pandor and Alen Ribic