Payment service company, Firepay, the team behind contactless mobile payment solution, SnapScan, has acquired South Africa-based HR, payroll and benefits solutions for SMEs, Radar.
The acquisition comes as Kobus Ehlers and Gerrit Greeff, Co-founders, exit Radar, their second startup, to SnapScan, their first.
While SnapScan makes it easy and safe to pay and receive payments in a store, online, at home, and on the go, using a simple snap rather than cards, cash, or time-consuming EFTs, Radar provides a solution for small and medium-sized enterprises to manage and grow their team via a single platform and a simple process.
For almost 10 years, Ehlers and Greeff have built various payments products leveraged by banks and SnapScan was the climax, becoming South Africa’s biggest mobile payments product prior to its acquisition by Standard Bank in 2016.
They both built Radar alongside Richard Oakley in 2019 and Radar has now been acquired by Firepay, the company behind SnapScan and a wholly-owned subsidiary of Standard Bank, in a deal both parties said had the potential to unlock a variety of value-added offerings for SnapScan customers.
Ehlers says Firepay has been one of the original investors in Radar due to the close strategic fit between their offering and what they built at Radar. Both companies try to solve different problems facing the same SME customers. “As Radar started looking for a way to scale our distribution and take the product to the next level, it became evident that working closely with SnapScan would be a great way to achieve that.”
“There are some very exciting possibilities when you combine our product with the reach and experience of the SnapScan team. We look forward to seeing the product grow and improve the lives of small business employers in South Africa.”
Marin Cundall, Firepay’s CEO, noted her delight in Radar joining the company. She said the focus is on providing the best experience for businesses and believes the acquisition will help in achieving the goal.
