SOUTH AFRICA – Quench, South African app-based deliveries startup, has raised an undisclosed amount of funding from Imvelo Ventures to help it build brand awareness and establish more partnerships across the country.
Founded in 2016, Quench provides same-day delivery of groceries, food, medication, and alcohol to customers in major centres across South Africa.
The startup has seen significant growth over the last year given the effects of Covid-19, expanding from being an alcohol delivery platform to also delivering other items as most consumers opted for home deliveries.
The startup has now secured funding from Imvelo Ventures, a South African venture capital firm founded by Capitec Bank and Empowerment Capital Investment Partners.
“The investment will assist Quench in growing brand awareness and expanding partnerships throughout the country”
Imvelo Ventures identifies and funds promising South African small and medium enterprises in the broad spectrum of financial technology, and its investment will help Quench continue to grow.
“The investment will assist Quench in growing brand awareness and expanding partnerships throughout the country,” said Quench founder Liam McCreedy.
“Our long-term focus remains to ensure growth with our current retail partners, Woolworths, Dis-Chem and Ultra Liquor, along with expanding our restaurant delivery footprint through delivery platform Mr Yum South Africa. More immediately, our attention will be focused on escalating our offering across multiple industries.”
In April 2021, Quench will launch a fully-integrated back-end system with a new consumer-facing app for “Quench Marketplace”, a new B2C channel created to empower suppliers, manufacturers, wine farms, produce farms and many more to sell, advertise and distribute off Quench’s infrastructure.
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