SA startups getting snapped up

South Africa’s startup scene is showing signs of maturity as investments and acquisitions become increasingly common.

Dustin Graham, Benchmark International. Photo: Kim van Zyl

Investors, both in SA and abroad, are snatching up local startups like never before amid a buying frenzy, say those in South Africa’s startup sector.

Earlier this year, retailer Homechoice International announced it had acquired 85% of buy now pay later startup PayJustNow to boost online sales; last year, various local and international buyers snapped up a string of fintechs, including Payflex (acquired by Australianlisted Zip), Selpal (bought by FNB), Oltio, Callpay, Connect Group, Crossfin and SwitchPay.

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