Thursday, October 5, 2023

Livecopper announces investment from Moa Holdings to scale e-commerce product

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E-commerce startup, Livecopper, has received an equity investment from Moa Holdings, founded by Yuppiechef co-founders Andrew Smith and Shane Dryde.

South African e-commerce startup Livecopper, whose flagship product is an e-commerce platform for industry professionals to source building fixtures, has announced an undisclosed equity funding round from Moa Holdings. The funding will be used to accelerate growth and expand Livecopper’s product offerings.

Moa Holdings was founded by e-commerce startup Yuppiechef co-founders Andrew Smith and Shane Dryden and will hold a 20% stake in Livecopper. Yuppiechef was acquired by Mr Price in March 2021 for R470 million (~$25 million).

“We are excited to invest in Livecopper and to partner with its talented team,” said Andrew Smith. “Livecopper is a well-established company with a strong reputation for quality and customer service. We believe that Livecopper has the potential to be a major player in the building fixtures industry, and we are committed to helping the company achieve its full potential.”

For Livecopper, managing director Alf Allingham stated that the deal will allow the company to leverage the expertise of Smith and Dryden in the e-commerce and retail sectors.

“They have a proven track record of success in the e-commerce and retail sectors, and they share our commitment to customer service and quality. We are excited to work with them to grow Livecopper and to meet the needs of our customers.”

Livecopper was founded in 2012 by Allingham and Andrew Davies. The company provides a one-stop e-commerce platform for industry professionals to source building fixtures, including lighting, plumbing, and sanitaryware.

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