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Naspers Invests in African Uber-Like Cleaning Service S...



Naspers Invests in African Uber-Like Cleaning Service Startup

The decision to hive off a big chunk of Naspers, to be called Prosus, leaves shareholders with a tax dilemma. (Photo: Bloomberg / Halden Krog)
By Reuters
20 Jun 2019 0

(Bloomberg) --Naspers Ltd.’s venture capital arm backed on-demand housekeeping service SweepSouth, part of a commitment to invest almost $100 million in tech startups in its home market of South Africa.

The 30 million-rand ($2.1 million) stake makes Naspers the largest investor in the company. A valuation was not disclosed.

SweepSouth lets users enter their location, the number of rooms that need cleaning, and any required extras such as laundry and ironing, then connects them to nearby workers. Payment takes place within the app.

Although the investment announced Thursday is small by international standards, the Naspers unit, called Naspers Foundry, has said it intends to invest 1.4 billion rand in South African tech startups to bolster local entrepreneurs. That’s as Africa’s biggest company prepares to list its international internet assets on Euronext Amsterdam next month.


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