The Crux Of Redefining How The Funding Landscape Looks For Black Owned Businesses Through Purchase Order Funding

Luyanda Jafta, Ceo And Co-Founder Of The People’S Fund The People’s Fund started out as a crowdfunding platform that facilitated the growth of Native Nosi, WalkFresh SA, Skinny Sbu Socks and Just Laundry, to name a few but ultimately the hunger to do more, drove Luyanda to switch the focus from crowdfunding to purchase order funding ( A purchase order is a commercial document that details an official order placed by a buyer (from either corporate or government) to a seller indicating types, quantities, and agreed-upon prices for products or services required. After the fulfilment of that order, the seller is then paid by the buyer’s organization that issued out the order.) And that pivot has lead to the business growing substantially and we’ve now facilitated the funding of purchase orders to the value of R40million and are aiming to hit R100 million in purchase orders funded by the end of June 2020.