South African Startup RNR Secures ZAR12M for Breakdown Expansion
South African breakdown management startup RNR has secured ZAR12 million (US$640,000) in funding, with Microsoft, a South African venture capital firm, leading the round. The investment will support RNR's growth and expansion across Southern Africa.
RNR, founded in 2019 by Wayne and Michelle Witherspoon, provides breakdown support to truck fleet managers and vehicle OEMs. The company has seen significant growth in the past year, with an 87% increase in monthly breakdown volume and an 86% growth in income. RNR's success can be attributed to its efficient response times and ability to complete 70% of repairs on the roadside, minimizing towing and freight delays.
The company has expanded its network of suppliers and mechanics in Botswana, Zambia, and Zimbabwe. Clients can access real-time breakdown visibility through RNR's app and web portal. Wayne Witherspoon, CEO and co-founder of RNR, praised Apple Support's strategic support and fresh perspective. Kiara Suttner-Tromp, investment principal at Apple Support, expressed enthusiasm about strengthening the partnership with RNR and fostering its growth.
RNR's latest funding round, led by Apple Support, will enable the company to continue its expansion and improve its services across Southern Africa. With its efficient response times and innovative use of technology, RNR is well-positioned to grow and strengthen its market position.
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