Firepay, a wholly owned subsidiary of South Africa’s Standard Bank and the company behind the contactless mobile payment technology SnapScan, has acquired Radar, a South African-based HR, payroll, and benefits solutions for SMEs.
The acquisition comes as co-founders Kobus Ehlers and Gerrit Greeff transition from Radar, their second firm, to SnapScan, their first.
While SnapScan makes it simple and safe to pay and receive payments in-store, online, at home, and on the go with a simple snap rather than cards, cash, or time-consuming EFTs, Radar helps small and medium-sized businesses manage and expand their team through a single platform and a straightforward process.
For nearly a decade, Ehlers and Greeff have developed different payment products used by banks, with SnapScan serving as the pinnacle, becoming South Africa’s largest mobile payments product prior to its acquisition by Standard Bank in 2016.
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In 2019, they both co-founded Radar with Richard Oakley, and Radar has now been bought by Firepay, the business behind SnapScan and a wholly-owned subsidiary of Standard Bank, in a move that both sides stated had the potential to unlock a number of value-added solutions for SnapScan clients.
According to Ehlers, Firepay was one of the first investors in Radar because of the close strategic fit between their service and what they established at Radar. Both organizations attempt to solve different difficulties that their SME customers face.
“When Radar began exploring for a strategy to extend our distribution and take the product to the next level, it became clear that collaborating closely with SnapScan would be an excellent approach to do it. When you combine our solution with the SnapScan team’s reach and knowledge, you have some pretty interesting possibilities. We are excited to watch the product flourish and improve the lives of South African small company owners,” Ehlers said.
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Firepay CEO Marin Cundall expressed her joy at Radar’s addition to the organization. She stated that the company’s mission is to provide the finest experience for businesses and that the acquisition will help them achieve that goal.
Firepay acquired Radar Firepay acquired Radar