South African HR and payroll startup Radar has been acquired by mobile payments provider SnapScan as founders Kobus Ehlers and Gerrit Greeff move from their second startup to their first.
Ehlers and Greeff spent nearly ten years building various payment products for and with banks, culminating in: SnapScanwhich became South Africa’s largest mobile payment product before its acquisition by Standard Bank at the end of 2016†
The couple started working on Radar – a integrated service that provides everything a business owner needs to grow and manage their team – partnered with Richard Oakley in 2019, and signed up 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 a deal that both sides believe had the potential to unlock a variety of value-added offers for SnapScan customers. The deal is pending regulatory approval.
“Firepay has been one of the original investors in Radar because of the close strategic fit between their offerings and what we’ve built at Radar. Both companies try to solve different problems faced by the same SMB customers. As Radar looked for a way to scale our distribution and take the product to the next level, it became clear that working closely with SnapScan would be a great way to achieve that,” Ehlers told Disrupt Africa.
“There are some very exciting opportunities 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.”
Firepay CEO Marin Cundall said she was excited about Radar joining the team and the opportunities it presents for the company and its future offerings.
“Our focus is on providing the best experience for businesses, and we believe this acquisition will help us achieve that goal,” she said.
The acquisition will see the founders of Radar leave the company, while the rest of the team will join Firepay. There will be no immediate changes for existing Radar customers or the products offered.