The journey from startup to scale is seldom straightforward. While many founders begin with a big idea, only a few succeed in translating that idea into a sustainable, scalable business. In a recent panel discussion, the founders of Zoie Health, Delivery Ka Speed and Float, shared how they navigated their early stages, pivoted when necessary, and tackled the local funding landscape.
Start with the Right Problem
Every startup has a story. For Alex Thompson, co-founder of Float, the inspiration came during his time in financial services. He noticed how little support existed for consumers when they didn't have money. That gap led to Float, a buy now, pay later platform designed to offer consumers better access to credit.
“We were really good for consumers when they had money, if they didn't, we didn't really want to know them. That was one of the problem statements that I looked at very closely,” he said.
For Thato Schermer, co-founder of Zoie Health, COVID-19 served as a catalyst. Realising how many women lacked access to healthcare, she used her corporate background to launch a digital platform dedicated to women’s health and wellness.
Meanwhile, Godiragetse (Godi) Mogajane, founder of Delivery Ka Speed, identified a logistical gap in his hometown of Hammanskraal. With no delivery services available, he began taking food orders via WhatsApp. That small idea has evolved into a township-focused logistics powerhouse.
Despite their differences, all three founders started by solving a real-world problem, a trait that resonated with every new customer and potential investor.
First Year Growing Pains
The panellists emphasised how the first year of the startup journey is the most defining. Thato admits that the first year leaned heavily on building a commercial and sustainable business model. She also outlines that in the first year, she learned to be ‘scrappy’ with how she went about the business. This meant building with no code solutions, using WhatsApp where possible and physically calling providers on behalf of clients.
“We were scrappy, no code solutions, WhatsApp and even cold-calling providers on behalf of clients,” she said. “But we soon realised the model was not sustainable. Being scrappy helped us answer a lot of the important questions we had.”
As startups scale and hit milestones, there comes that time when founders have to decide if the current model is sustainable, can the business diversify its offering, or should there be a pivot?
For Godi, the turning point came when food delivery alone no longer addressed the broader logistical needs of the township. Larger delivery companies were charging high premiums for townships, and some avoided the area all together. Today, Delivery Ka Speed partners with brands like Spar, Waltons and Capitec for last-mile delivery and courier services in townships.
“The dynamics of each township are different and understanding all these nuances is what makes our logistics model work,” he said.
Thato said that her pivot moment was not easy, and at the time felt like the initial business idea was failing. “We were trying different things, and it just wasn't working. It felt like failure,” she shared. The breakthrough came from listening to their community of +14 000 women. The team began investing in natural, clinically tested supplements, which eventually led to their first consumer health product.
Startup Fundraising in South Africa: Lessons from the Trenches
Securing the right funding at the right stage can define the growth of a startup, but how, when and from whom matters just as much.
For Alex, early fundraising was smoother than normal. “We were fortunate to raise our initial round off a paper idea, based on strong global precedents. But later rounds were difficult. Our category had been tainted by bad behaviour in other countries and we were guilty by association.”
The breakthrough came through support networks and, crucially, a fundraising advisor. “We got connected throughLighthouse Venture Partners and that completely changed the game for us.”
For Godi, success came down to finding the right investor fit. “We initially raised as a ‘filler’ business, with one product line. But post-pivot, we stayed true to our core focus: township logistics. That consistency helped our investors stay confident, even when things changed. Aion's Ventures, for example, have been deeply supportive beyond just capital. They understood our market, gave us access, and believed in our broader mission.”
Thato said the solution to securing funding was to build a solid, revenue-generating foundation. And as much as venture capital played an early role, the funding strategy changed and they looked into other types of financing.
“Initially, it was all about VC—because that’s what Silicon Valley tells you to do. But now, we’re exploring debt, working capital, and other forms of financing for the consumer side. VC still has a place, but only when the traction is there and you’re ready to scale meaningfully.”
Key takeaways from these founders?
In the end, the startups that go from start to scale are those that combine bold ideas with deep execution and a good dose of resilience.
Lungile is the Digital Editor for TechAfrica, with a knack for storytelling, technology and innovative ideas. Working with TechAfrica, she takes simple ideas and turns them into amazing stories.
Lungile Msomi
