South African VC firm Silvertree Capital has invested over ZAR10 million (US$800,000) in Cape Town-based organic e-commerce startup Faithful to Nature in a bid to accelerate the online retailer’s growth.
Faithful to Nature carries the largest inventory of authentic natural products in South Africa, including food, household products, kitchen appliances and cosmetics. It offers secure payment and to-your-door courier delivery.
The company has already seen revenue growth of over 70% year-on-year for the last three years, and reported a significant net profit in the last financial year.
The funding from Silvertree Capital will be used to accelerate the platform’s growth and reach customers through additional channels. The investment was facilitated by U-Start, a global boutique investment advisory firm based out of South Africa and Switzerland.
Faithful to Nature will grow its marketing spend and expand operations beyond consumer-focused online sales, with Silvertree and other companies within its portfolio supporting Faithful to Nature on topics including online marketing, IT systems, logistics and support functions.
Paul Cook, co-founder of Silvertree Capital, said the Faithful to Nature team has an “unparalleled passion” for natural and organic options, which shines through in the product range and customer experience it offers.
“They 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,” he said.
“We are driven to become market leaders in the green retail space and we’re excited to have as dynamic a partner as Silvertree to support us with our ambitions,” said Robyn Smith, founder and chief executive officer (CEO) of Faithful to Nature.