Santam Acquires SA Home Services Marketplace Kandua

Johannesburg-based online marketplace for home services, Kandua, has been fully acquired by Santam, South Africa’s largest short-term insurer.

Kandua was founded in 2014 by Arjun Khoosal and Sayo Folawiyo. The platform helps people find trusted professionals for home repairs and renovations. With over 40,000 vetted home service companies, Kandua secured significant pre-series A funding in July 2021. Now, it has been entirely bought by Santam, a leading insurer with more than 22% market share.

Kandua will merge with Santam’s existing home service branch, Home+, to form an independent subsidiary under Santam.

“Kandua’s talent, technology and customer base are valuable assets for our business, as it opens up 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. She asserted that it’s a strategic move to accelerate our digital expansion and reach new market segments. The acquisition will help informal artisans and small businesses through training, business growth, job creation, and financial inclusion.

Kandua for Business, a division of the company, caters to retailers and insurance companies, making service integration transparent and efficient. Many large retailers and financial services use Kandua’s platform to offer professional installation services and streamline insurance claims.

“Our vision is to make home service fulfilment seamless and equitable for service providers and the customers they serve, driven by trust and simplicity. We do this by using technology to 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,” said Folawiyo, who will continue as CEO of Kandua.