Weaver Fintech has acquired an 85% stake in PayJustNow, which is a buy-now-pay-later finance company that is based in South Africa. The company has secured relationships with one of the largest merchants in South Africa such as the Mattress Warehouse, Puma and Edgars. The acquisition of PayJustNow will scale the fintech startup in its quest to provide mobile-first technology-driven solutions. The acquisition amount paid by Weaver Fintech was not disclosed.
Weaver Fintech is a digital, data-driven business headquartered in Mauritius offering personal lending, insurance, payments and value-added services with revenues in the region of R491-million. It has a customer base that has grown significantly to over 410,000 in 2021. The company is a subsidiary of HomeChoice International with revenues of R3.3-billion, operating profit of R270-million and total assets of R4.6-billion as at December 2020.