Introduction
Santam, South Africa’s largest short-term insurer, has wholly acquired Kandua, a prominent online marketplace for home services. This strategic acquisition will see Kandua merge with Santam’s existing home service offering, Home+, forming a wholly owned, independent subsidiary of the insurer.
Online Marketplace for Home Services
Kandua.com provides an online marketplace for home services, enabling consumers to connect with, compare, and hire professionals across various service types, including plumbing, electrical work, carpentry, and more. Service providers benefit from the 'Kandua for Pros' app, which helps them find new customers and manage core business processes efficiently.
Kandua for Business
Kandua for Business is a division of the company that caters specifically to retailers and insurance companies, using technology to integrate services into their value chains transparently and efficiently. Large retailers and financial services firms currently utilize Kandua’s platform to offer professional installation services and streamline insurance claims fulfillment.
Enhancing Digital Innovation and Client Growth
“Kandua’s talent, technology, and customer base are valuable assets for our business, opening up new avenues for client growth and digital innovation,” says Gloria Tapon-Njamo, CEO of Santam Partnership Solutions. The acquisition aligns with Santam's strategic goals to accelerate digital innovation and expand into new market segments.
Supporting Small Businesses and Artisans
This acquisition will have a significant impact on informal artisans and small businesses by providing access to training, enabling business growth, creating jobs, and fostering financial inclusion. Santam aims to introduce products tailored to the needs of these small businesses and artisans, furthering their development and success.
Founders' Vision and Continuation
Kandua was founded in 2014 by entrepreneurs Sayo Folawiyo and Arjun Khoosal with a vision to help small businesses grow by connecting professional service firms with consumers. On average, Kandua connects over 40,000 vetted home service companies to approximately R50 million worth of work opportunities each month.
Seamless and Equitable Home Service Fulfillment
“Our vision is to make home service fulfillment seamless and equitable for service providers and the customers they serve, driven by trust and simplicity. By using technology, we make marketing and business operations easier for service providers, shortening the distance between having a skill and making a living from it. Being part of Santam accelerates this work,” says Folawiyo, who will continue to serve as CEO of Kandua.
