Venture builder Silvertree Capital is investing in local organic e-business, Faithful to Nature, in a deal valued at over R10 million.
Faithful to Nature, founded in 2007, is a South African online shopping site that sells organic products, including food, beauty and lifestyle items. Based in Cape Town, the company delivers anywhere in the country, often on a same-day basis.
Silvertree Capital is a venture builder that incubates and invests in tech-related businesses targeting African consumers.
The investment deal was facilitated by U-Start, a global boutique investment advisory firm based out of SA and Switzerland. Silvertree hopes to accelerate the organic retailer's growth and reach customers through additional channels.
The venture builder will support Faithful to Nature as it grows and diversifies during the next few years. Over the last three years, the e-business has seen revenue growth of over 70% year-on-year.
Robyn Smith, founder and CEO of Faithful to Nature, says: "We are driven to become market leaders in the green retail space."
The deal includes financial investment to grow marketing spend and expand operations beyond consumer-focused online sales. In addition, Silvertree will support Faithful to Nature with online marketing, IT systems, logistics and support functions.
"The Faithful to Nature team have built a great company so far, and we are excited to be working together, with our deep experience in online commerce, to help the company become even more successful," says Paul Cook, co-founder of Silvertree Capital.
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