SA e-Commerce Startup, Shopstar Secures Third Funding Round to Facilitate Expansion
Shopstar, a local e-commerce platform, has received third-round funding from Launch Africa Ventures, indicating the start of the company’s next phase of expansion.
The cloud-based e-commerce platform, which is proudly South African, assists local entrepreneurs in creating an online store and growing their business by providing easy-to-use, professional services that enable them to trade economically.
Shopstar was established in the year 2014. After evaluating the company’s potential, Mike Joubert, a seasoned entrepreneur and investor, began a second round of financing and became the company’s majority shareholder in late 2018. He initiated the turnaround plan and began scaling it for expansion.
Launch Africa Ventures, noted for its early investment in and support of over 60 high-potential African digital start-ups, has now provided further money to the company.
Local entrepreneur Chris Edington has been hired as the company’s CEO as part of its expansion strategy.
His experience as an entrepreneur and IT specialist, which includes founding and leading start-ups, enables him to provide the company with specialized insights and knowledge, as well as a deep understanding of Shopstar’s clients — creative entrepreneurs who are starting and growing their own businesses.
Edington is implementing ways to build the platform as part of the initial short-term objectives, so that it not only reflects the future of e-commerce, but also gives the tools of the future to enable small businesses start, operate, and expand.
Shopstar just announced new collaborations and sponsorships with major worldwide brands. Has is South Africa’s only Meta (Facebook) authorized e-commerce business, and it recently earned an AWS Activate grant. Yoco, a prominent South African start-up, is one of the other local partners.
