Capitec Acquires South African Fintech Walletdoc for $23.5 Million
- Capitec Bank acquires Walletdoc for R400 million ($23.5 million).
- The deal includes R300 million in cash upfront and R100 million in performance-based earn-outs.
- Walletdoc's payment gateway will integrate into Capitec's business-banking operations.
The acquisition of Walletdoc by Capitec Bank represents a strategic move that could reshape the online payment landscape in South Africa. By integrating Walletdoc's technology, Capitec not only enhances its service offerings but also positions itself as a key player in the fintech sector. This could lead to increased competition and innovation in the market, benefiting consumers and businesses alike.
