SnapScan acquires startup Radar

Tuesday 10 May 2022 08:28 CET | News

South Africa-based mobile payments app SnapScan has bought payroll startup Radar.

Radar, an integrated service that takes care of everything a business owner needs to grow and manage their team signed up its 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 both parties said had the potential to unlock a variety of value-added offerings for SnapScan customers.

Firepay has been one of the original investors in Radar due to the close strategic fit between their offering. Both companies try to solve different problems facing the same SME customers. As Radar started looking for a way to scale its distribution and take the product to the next level, it became evident that working closely with SnapScan would be a way to achieve that.

The acquisition will see the Radar founders exit the business, while the rest of the team will join Firepay. There will be no immediate changes for existing Radar customers or the products on offer.

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Keywords: mobile payments, acquisition, SMEs, startup, expansion
Categories: Payments & Commerce
Companies: Radar, SnapScan
Countries: South Africa
This article is part of category

Payments & Commerce




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