SweepSouth, Africa’s largest online home services platform, has announced it has acquired Egyptian startup Filkhedma, a home services marketplace with three locations. Filkhedma provides cleaning, maintenance, and beauty services to tens of thousands of consumers while also providing continuous revenue and professional growth to over 2 000 service providers using technology.
“We are thrilled to have Filkhedma as part of the SweepSouth family,” says Aisha Pandor, CEO and Co-founder of SweepSouth.
“It’s not only their services that align with ours, but also their values and culture. Just like us, Filkhedma is passionate about providing quality and trusted home services, while creating work opportunities for those who need it most.”
Why The Acquisition?
SweepSouth will be in a strategic position to reach neighboring geographies as a result of the acquisition. SweepSouth’s addressable market on the continent will nearly double as a result of the agreement, paving the path for the launch of additional services in South Africa, Egypt, Kenya, and Nigeria.
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SweepSouth will be one of a few African businesses functioning throughout the continent’s four important digital ecosystems of South Africa, Egypt, Kenya, and Nigeria as a result of the acquisition. It also means that new services will be available to all markets very quickly, and the company will be well-positioned to expand further into Africa and the Middle East.
“This acquisition has the potential to yield significant synergies. Filkhedma is an excellent business and is aligned to SweepSouth’s ambitions to expand its service offering and gain access to high growth markets across the region,” Naspers Foundry Head, Fabian Whate said.
“Egypt’s growing middle class and rising financial inclusion and internet penetration, offer huge opportunities for the combined home services platform of the two companies.
“Helping high-potential early-stage tech companies scale is central to what Naspers Foundry does and we’re particularly excited about this milestone in SweepSouth’s journey.”
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Co-founder of SweepSouth Alen Ribic added, “We’ve proven out our technology and operational expertise in numerous markets in sub-Saharan Africa, and this acquisition gives us the opportunity to extend that reach into Egypt, a huge market with millions of households. Coming together with the Filkhedma team represents the next phase of building SweepSouth into a global platform that will continue to expand our services not only on the continent but further abroad as well.”
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“We are happy with this incredible milestone and excited about joining forces with the SweepSouth team to fulfil our vision of empowering providers and delivering quality services in Africa and beyond,” Omar Ramadan, CEO and Founder of Filkhedma, says.
“We already have well over 2 000 service providers on our platform and we’re confident that with the backing of SweepSouth, we will be able to sign up many more and expand into neighbouring countries, too.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer