Capitec Bank, a leading retail bank founded by South African billionaire banker Michiel le Roux, said it has agreed to buy 100 percent of Walletdoc Holdings in a deal valued at up to R400 million 23.5 million. The purchase adds a growing digital payments business to Capitecs expanding financial services network.
Founded in 2015, Walletdoc provides payment gateway tools for merchants, including in-app billing, digital wallets, and Instant EFT. Capitec said the fintechs hands-on approach to product development and customer service aligns closely with the banks own push to offer simple, low-cost financial solutions.
Deal structure and strategic rationale
