SA Fintech Walletdoc Acquired By Capitec In Deal Worth Up To USD 23.8 M
South African fintech Walletdoc is to be acquired by top lender Capitec, which has agreed to purchase 100% of the company in a transaction valued at up to ZAR 400 M (~USD 23.8 M), subject to regulatory approval.
Founded in 2015, Walletdoc provides payment gateway infrastructure for merchants, including in-app payments, digital wallets, Instant EFT, and other alternative payment solutions. The acquisition positions Walletdoc as a core component of Capitec’s broader push to lower payment costs, expand digital access, and deepen financial inclusion.
The deal includes an upfront ZAR 300 M cash payment, alongside a deferred earn-out of up to ZAR 100 M, payable in cash over three years and linked to Capitec’s share price and performance milestones.
Capitec said Walletdoc’s culture of innovation and operational efficiency aligns closely with its own values, framing the acquisition as a strategic step toward building a more inclusive and competitive payments ecosystem. The move adds to Capitec’s growing list of fintech and banking acquisitions as it eyes both local and international expansion.
