Capitec Bank announced on 8 December 2025 that it has agreed to acquire 100% of Walletdoc Holdings for a consideration of up to R400 million, equivalent to approximately $23.5 million. The transaction, which remains subject to regulatory approvals, would bring into the Capitec group a fintech business providing payment gateway solutions for merchants, including online and in-app payments, digital wallets, Instant EFT, payment links and real-time payouts.
Walletdoc, established in 2015, began as a consumer bill-payment app before expanding into merchant payment acceptance, remote card collections and invoicing tools for small businesses. For Capitec, the proposed acquisition is intended to offer secure payment acceptance to Capitec Business clients and simpler, more affordable e-commerce solutions to its personal banking clients.
DEAL TERMS
The R400 million consideration comprises a R300 million cash payment, subject to customary adjustments, and a deferred earn-out of R100 million linked to the Capitec share price and payable in cash over three years, subject to certain milestones.
REGULATORY APPROVALS STILL REQUIRED
The deal cannot close until Capitec has obtained the necessary regulatory clearances. In South Africa, acquisitions involving licensed banks and financial services businesses typically require approval from the Prudential Authority, an entity housed within the South African Reserve Bank with responsibility for the safety and soundness of banks and insurers.
Capitec is listed on the Johannesburg Stock Exchange.