Neighbourgood, a co-living and working company, has officially acquired South Africa’s LocalKnowledge. This acquisition marks the beginning of a new chapter for LocalKnowledge, as the team embarks on creating the “Neighbourgood Experience Vertical.” The LocalKnowledge App serves as an all-access digital passport and insider guide, providing users with personalized recommendations and exclusive insights into the pulse of a city.
App users can access authentic recommendations curated by locals, ensuring a personalized and genuine experience. Users can seamlessly reserve top-notch co-living spaces and co-working environments through the app.
Additionally, the platform facilitates connections with like-minded neighbours, allowing users to become part of a community of individuals who share similar interests and insights within the city. This feature encourages networking opportunities and enhances the exchange of local knowledge among users.
LocalKnowledge Set to Rebrand
Under Neighbourgood, LocalKnowledge will have a rebrand. Although the name and logo may undergo changes, the core mission remains steadfast.
“Our name and logo might change but our mission stays the same. The only difference is the fact that we now have the opportunity to have an even greater positive impact local communities around the world.” read part of the statement from the company.
This acquisition opens a growth opportunity for the app. Having down well in Cape town, the company has set its sights on California. With the launch promised to be early in 2024, California will become the second destination for the app. The ultimate aim is to create a global network that disrupts the travel industry.
Baobab Network Success Story
Local Knowledge now becomes the fourth Baobab Network portfolio company to be acquired. Previous success stories include Pennysmart, which was acquired by Flutterwave; Veedez (formerly Shago Payments), acquired by Alerzo; and Mangwee Payment Systems, acquired by Zeepay Company Limited. It is also a unique story in the African start-up ecosystem where fintech acquisitions are more prevalent.
On its part, Baobab Network is seeking more success stories. The accelerator currently has a US$100 K investment fund and is on the hunt for new start-ups to back.