In a significant development in the South African e-commerce landscape, Livecopper, an emerging e-commerce startup specializing in the procurement of building fixtures for industry professionals, has secured a substantial equity investment from Moa Holdings. This strategic partnership marks the entry of Moa Holdings into the world of online construction supply, signaling a fresh chapter for Livecopper.
Moa Holdings, the brainchild of the renowned Yuppiechef co-founders Andrew Smith and Shane Dryde, has extended its support to Livecopper with an undisclosed investment that will fuel the company’s growth ambitions and broaden its range of product offerings. The investment will see Moa Holdings holding a 20% stake in Livecopper, an exciting step forward for both entities.
Yuppiechef, a household name in the South African e-commerce arena, was successfully acquired by Mr. Price in March 2021 for an impressive R470 million (approximately $25 million). This triumphant exit paved the way for Andrew Smith and Shane Dryde to explore new opportunities, and they firmly believe that Livecopper embodies the potential for another e-commerce success story.
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Andrew Smith expressed his enthusiasm for the partnership, saying, “We are excited to invest in Livecopper and to collaborate with its talented team. Livecopper is a well-established company with a stellar reputation for quality and exceptional customer service. We are convinced that Livecopper can ascend to a prominent position in the building fixtures industry, and we are fully committed to supporting the company’s journey to its fullest potential.”
For Livecopper, this infusion of investment and expertise signifies a pivotal moment. Alf Allingham, Managing Director of Livecopper, highlighted the significance of the deal, saying, “This partnership allows us to harness the vast experience of Smith and Dryde in the e-commerce and retail sectors. Their impressive track record in these domains, coupled with their shared commitment to superior customer service and product quality, aligns perfectly with our values and aspirations. We are eager to collaborate with them to propel Livecopper’s growth and meet the evolving demands of our valued customers.”
Founded in 2012 by Alf Allingham and Andrew Davies, Livecopper has grown to become a trusted one-stop e-commerce platform catering to industry professionals seeking high-quality building fixtures, including lighting, plumbing, and sanitaryware. With this strategic investment from Moa Holdings, Livecopper is poised to embark on an exciting new chapter, capitalizing on the wealth of experience and vision of its new partners to redefine the construction supply industry in South Africa.
Yuppiechef Co-Founders
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