- Published: Monday, 04 September 2017 11:25
- Sourced by SolutionsTeam
Feastfox, an eating out App from Cape Town, South Africa, has revealed that it has successfully closed its Angel fundraising round, raising $175,000 (R2.3 million) primarily from Silicon Valley-based Angels and VC firms. The mobile startup, which originates out of Stanford University, has a presence in Silicon Valley, Cape Town and Budapest. Feastfox approaches dining experiences from a new perspective, focusing on spontaneous eating out with its “book now, eat now” concept. The venture’s co-founder, Cape Town local, Stuart Murless explains “by raising Angel funding from exceptional, California-based venture capital firms and Angel investors, we proved that it is possible to get early-stage, Silicon Valley financing for a mobile startup in South Africa.”
One of South Africa’s top e-commerce companies and most-loved brands continues to set the standard for online businesses as recognised by uAfrica’s eCommerce Awards. Investec’s blog recently featured an interview with Andrew Smith, co-founder and CEO of Yuppiechef, where he shares his views on how to forge ahead and be remarkable when it comes to delivering online.
What is your take on the South African e-commerce landscape?
E-commerce in South Africa is growing fast and certainly getting a lot more attention than it did a few years ago but it is still a tiny fraction of all retail – around 1% of South Africa’s R500bn (US$38bn) total. For the last two decades, e-commerce was mostly about the pure-play pioneers such as Kalahari and Netflorist, and more recently Takealot, Zando and ourselves. The exciting movement now is by the traditional retailers like Woolworths who are starting to invest properly in their omni-channel offerings.