Short-term insurance specialist Santam has acquired Kandua, a technology company that provides an online marketplace for home services.
Kandua will be merged with Santam’s existing home service offering, Home+, forming a wholly owned, independent subsidiary of the insurer. The value of the acquisition was not disclosed.
Kandua was founded by entrepreneurs Sayo Folawiyo and Arjun Khoosal in 2014 to help small businesses grow by connecting professional services firms with consumers. Folawiyo will continue to serve as CEO of Kandua post-acquisition.
On average per month, Kandua connects around 40 000 vetted home service companies to about R50-million worth of work opportunities from individual and business customers.
Sanlam said in a statement on Monday that the Kandua website offers an online marketplace for home services that allows consumers to connect with, compare and hire professionals across hundreds of service types, including plumbers, electricians and carpenters. Service providers can use the Kandua for Pros app to find new customers.
“Kandua’s talent, technology and customer base are valuable assets for our business, as it opens new avenues for client growth and digital innovation. The business has an established technology and extensive network of customers,” said Gloria Tapon-Njamo, CEO of Santam Partnership Solutions, the Santam Group division focused on building partnerships across industries to develop innovative products, diversify revenue and expand into untapped market segments.
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Several large retailers and financial services providers already utilise the service, Santam said. “Retailers can offer their customers professional installation services together with their purchases of home goods. The insurance solution enables the same efficiency and transparency for insurance claims fulfilment.” — © 2024 NewsCentral Media