BY TOM JACKSON
Brown and Ayo, an aspirational lifestyle hair brand focused on natural hair styles and trends for black women in South Africa, has raised ZAR4 million (US$276,000) in funding from female-focused VC firm Enygma Ventures.
Since 2019, Brown and Ayo has been providing a range of natural hair extensions created to mimic black natural hair textures through its online store, priding itself in bringing both trendy and well-loved products to the South African black woman consumer.
Enygma Ventures is a ZAR100 million (US$6.8 million) fund launched in late 2019, which has a focus on investing in women entrepreneurs in the SADC region. It has now backed Brown and Ayo to the tune of ZAR4 million (US$276,000) to help it grow.
“We are overjoyed about our partnership with Enygma Ventures which provides both financial and strategic support. This will allow us to execute on our vision to scale across Africa and globally,” said Acanda Jaswa, founder of Brown and Ayo.
“As a solo black female founder operating outside of traditional technology, my odds for raising significant VC funding were low. It is thus very exciting to be backed by Enygma Ventures and their diverse team that understand this exciting sector and have been extremely valuable in supporting me to think strategically about growing my business.”
