South African startup RNR has raised ZAR10 million (US$555,000) in finance to assist its development and African expansion. RNR is a breakdown management firm with technology that mobilises a network of countrywide providers to service whole fleets at the push of a button.
HAVAÍC, a Cape Town-based venture capital firm, made the investment. During the next five years, the firm plans to expand across South Africa and into other regions of the continent.
A Look At What The Startup Does
RNR, which stands for “Right Now Reponse,” is an on-demand breakdown management and analytics platform that was founded in 2019. Utilizing technology to match supply and demand, the firm provides breakdown support to truck fleet managers and vehicle Manufacturers through its countrywide network of certified mechanics, electricians, and service centres.
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RNR not only substantially increases reaction times by mobilising its nearest subcontractor, but it also completes 70% of repairs on the roadside, avoiding costly towing and freight delays. The app and web interface provide clients with breakdown visibility 24 hours a day, seven days a week, including live location tracing and tracking from acceptance through roadside and workshop repair. RNR has assisted over 25,000 breakdowns for almost 1,200 carriers since its inception.
“We cannot be more excited to partner with HAVAÍC,” said RNR CEO Wayne Witherspoon. “We are in hugely capable hands and look forward to bringing our technology to the rest of Africa. As fleet owners ourselves, we look forward to driving innovation in the sector by helping others curb unwelcome expenses and delays. What’s more, our model brings more business to our subcontractors nationwide, particularly those in rural areas.”
Kiara Suttner-Tromp, principal at HAVAÍC, said RNR was ideally aligned with the firm’s investment philosophy of supporting early-stage firms that use technology to tackle real-world challenges.
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“HAVAÍC has a strong track record of helping industry aggregators like RNR develop and scale. We are very energised by our partnership with Wayne and his team and look forward to capitalising on ample opportunities in the sector to unlock significant value for RNR,” she said.
RNR breakdown management RNR breakdown management
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard