South African online pet food and accessory store Pet Heaven has secured investment from Silvertree Internet Holdings to further accelerate its growth.
Silvertree will provide expansion capital for Pet Heaven and support it through synergies with its other portfolio e-commerce companies, such as Faithful to Nature and Cybercellar.
The startup’s core product is pet food, namely high end and veterinarian-approved ranges such as Eukanuba, Hills and Royal Canin. Subscribers enjoy hassle-free delivery of food, on a recurring subscription and at great prices.
Pet Heaven has seen revenue growth of 150 per cent year-on-year over the last two years with limited marketing spend, operates small warehouses in Johannesburg and Cape Town, and focuses continuously on cost and performance of logistics, marketing and product sourcing.
The Silvertree investment will be used for increased marketing, broadening the range of pet accessories and new food brands that the site stocks, further IT investment, and growing the team to support continued market penetration across South Africa.
“We’ve seen huge demand from pet owners for affordable, convenient delivery of pet essentials, and we’re excited to be making our offering available to far more customers, with the support of Silvertree,” said Pet Heaven chief executive officer (CEO) Schalk Kearney.
Silvertree Director Paul Cook said Pet Heaven’s subscription model was great for customers, and helped Pet Heaven turn once-off customers into lifelong fans.
“We have been blown away with what the team have already achieved, and we’re excited about Pet Heaven’s business, as well as the opportunities for collaboration between Pet Heaven and other ecommerce companies in which we have invested,” he said.
“Pet Heaven has already proved that it’s entirely possible to make money in niche ecommerce in South Africa, through disciplined, lean execution – and there’s lots more to come.”
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