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Iris Fresh, a Cape Town-based fresh produce exporter, has secured growth funding from the Vumela Fund. Founded in 2009 by FNB Business Banking in collaboration with Edge Growth, Vumela integrates developmental funding with active business support to assist high-potential SMEs in their growth journey.
Iris Fresh sources premium fruit and vegetables from farmers across South Africa and neighbouring countries, then exports them to international buyers.
The investment is meant to help the company connect more growers to global markets at a time when demand for high-value produce, such as berries and specialty vegetables, keeps rising.
“This funding marks an important milestone in our journey at Iris Fresh. It allows us to invest in growing the business, unlocking new opportunities, and reinforcing our commitment to building a future-focused agricultural business,” said Sandeep Valodia, founder of Iris Fresh.
Further, Valodia added that the support network and growth opportunities tied to the funding are already adding value to the business, and that this impact should grow as the company scales.
Iris Fresh sources roughly 80% of its produce from small and medium-scale farmers, and the business already supports more than 150 indirect jobs.
Last year, in July, the company joined the FNB SME Growth Exporter Programme to build up its export skills and reach new markets.
Through the programme, Iris Fresh received strategic advice, operational reviews, mentorship, and market access support delivered by Edge Growth. This work laid the groundwork for the company to later qualify for funding through Vumela.
“SMEs do not grow through funding alone. They need the right combination of capability, market access and capital at the right stages of their journey. Iris Fresh is a powerful example of what FNB is seeking to enable through our SME ecosystem, supporting businesses to strengthen their foundations, access new markets and, when they are ready, unlock the capital required to scale. When businesses like Iris Fresh grow, the impact extends beyond the entrepreneur to jobs, supply chains and the wider economy,” said Palesa Moeletsi of FNB.
The funding will help Iris Fresh connect South African and nearby growers with high-end international markets. This involves coordinating sourcing, combining volumes from different suppliers, and ensuring quality standards.
As the business grows, Iris Fresh aims to support more jobs beyond the current 150 and work more closely with small and medium-sized farmers.
“Iris Fresh is led by a highly capable and experienced management team with a strong track record of operational execution and growth. Vumela’s investment will provide critical capital to scale the business, enabling expansion of operations, strengthening market presence, and enhancing supply capabilities. The partnership supports a well-run, high-potential business poised for sustainable growth, contributing to job creation and broader economic development,” said Jessica Blake, Associate Principal at Edge Growth.
Previously, Vumela Enterprise Development Fund backed South African tech-driven logistics startup Breaze Delivery with $1.23 million in June and dental health startup Mia Healthcare Technologies with $910,000 in May.
Last month, Edge Growth launched the Edge Impact Fund (EIF), a catalytic debt fund designed to provide flexible financing to established, technology-enabled businesses across South Africa and select African markets.
