Capitec has announced a deal where it will acquire 100% of fintech company Walletdoc Holdings in a deal that could reach R400 million. <\/p>\n\n\n\n
Walletdoc was established in 2015 and provides payment gateway services for merchants, including in-app payments, digital wallets, Instant EFT, and more. <\/p>\n\n\n\n
Capitec said that Walletdoc\u2019s culture of innovation, efficiency, and client focus is closely aligned with its core values.<\/p>\n\n\n\n
The acquisition is a strategic step in Capitec\u2019s plan to reduce payment costs, expand access to digital financial services, and promote financial inclusion, it said.<\/p>\n\n\n\n
The purchase consideration comprises a cash payment of R300 million, subject to customary adjustments upon closing. <\/p>\n\n\n\n
There will also be a deferred earn-out of R100 million linked to the Capitec share price and payable in cash over three years. The earnout is subject to the achievement of certain milestones over that period.<\/p>\n\n\n\n
\u201cCapitec believes in the power of innovative technology to deliver smart, seamless payment solutions that benefit both merchants and consumers,\u201d it said. <\/p>\n\n\n\n
\u201cWe are committed to making financial services more accessible and affordable for all South Africans.\u201d<\/p>\n\n\n\n
\u201cWe see this acquisition as an important step in building a more inclusive and competitive payments ecosystem.\u201d <\/p>\n\n\n\n
The deal, which remains subject to regulatory approval, joins a list of high-profile acquisitions by Capitec. <\/p>\n\n\n\n
In 2019, Capitec acquired Mercantile Bank in a deal worth R3.5 billion, which has since been rebranded as Capitec Business Banking. <\/p>\n\n\n\n
In 2024, Capitec also increased its stake in international lender Avafin to 97%, with the company having operations in Poland, Spain, Mexico, Czechia, and Latvia.<\/p>\n\n\n\n
Newly appointed Capitec Group CEO Graham Lee also announced that the group is looking to expand into international markets, even if the exact details are yet to be released. <\/p>\n","protected":false},"excerpt":{"rendered":"
Capitec is looking to acquire Walletdoc Holdings in a deal that could reach upwards of R400 million. <\/p>\n","protected":false},"author":95,"featured_media":834870,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[23728,1798,12268],"class_list":["post-845768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-avafin","tag-capitec","tag-walletdoc"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/845768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=845768"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/845768\/revisions"}],"predecessor-version":[{"id":845773,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/845768\/revisions\/845773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/834870"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=845768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=845768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=845768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}