South African startup Human Resources and Payroll Radar has been acquired by mobile payment provider SnapScan, while founders Kobus Ehlers and Gerrit Greeff are leaving their second startup to their first.
Ehlers and Greeff spent nearly a decade building various payment products for and with banks, culminating in Fast scanwhich previously became the largest mobile payment product in South Africa acquisition by Standard Bank at the end of 2016.
The couple started working Radar – an integrated service that takes care of everything a business owner needs to grow and manage his team – with Richard Oakley in 2019 and registered their first customers in 2020. Radar has now been acquired by Firepay, the company behind SnapScan and a wholly owned subsidiary of Standard Bank, in an agreement that both sides said had the potential to unlock a variety of value-added offers for SnapScan customers. The agreement is awaiting approval by regulators.
“Firepay was one of the first investors in Radar due to the close strategic match between their offer and what we built at Radar. Both companies try to solve different problems that the same SME customers face. As Radar began to look for ways to expand our distribution and take the product to the next level, it became clear that working closely with SnapScan would be a great way to do that, ”Ehlers told Disrupt Africa. .
“There are some very interesting possibilities when you combine our product with the coverage and experience of the SnapScan team. We look forward to seeing the product grow and improve the lives of small business owners in South Africa. ”
Marin Cundall, CEO of Firepay, said she was excited to join the Radar team and the opportunities it offers for the business and its future offering.
“Our focus is on providing the best business experience, and we believe this acquisition will help us achieve this goal,” she said.
With the acquisition, the founders of Radar will leave the business, while the rest of the team will join Firepay. There will be no immediate changes to existing Radar customers or the products offered.