FINTECH: Multiply Group, Randvest and Nedbank Private Equity Successfully Exit Q Link
A consortium of private equity investors comprising Multiply Group, Nedbank Private Equity, Apis Partners and former Business Connexion CEO Isaac Mophatlane (Randvest Capital) are pleased to announce the successful disposal of their interests in Q Link to a consortium led by Sanlam Private Equity.
Q Link is a leading independent financial service outsourcing business, providing payment application services software that manages deductions in both the payroll and bank collection streams and is a preferred provider of payment application software to the South African insurance industry and other third-party benefit providers.
Matthew Blewett of Multiply Group said “We have enjoyed a successful investment period with Q Link during which time the business has been able to develop and implement new digital collection and payment solutions. In addition, Q Link has expanded its offering to include the short-term insurance industry through its subsidiary QSure. Sanlam Private Equity is an excellent partner for Q Link as it continues its growth aspirations”.
Isaac Mophatlane, a long time partner and investor in QLink concludes, “We are extremely excited about the future prospects of Qlink. Qlink remains an essential service to the country and importantly it is well positioned for the financial inclusion of our citizens. “
South Africa’s burgeoning Fintech industry continues to be an exciting investment space for both private equity and strategic investors, locally and abroad. Businesses like Q Link are evidence of the enviable financial services and technology intellectual property that still resides in South Africa.