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Sanlam buys fintech company Q Link

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Financial services group Sanlam has bought a controlling interest in payment solutions provider Q Link Holdings, its first fintech investment.

Sanlam Private Equity agreed to acquire Q Link’s shares from UK based private equity fund Apis Partners, local private investment firm Multiply Group, and other minority shareholders.

“We are seeing the significant social impact, especially around financial inclusion and improving the lives of previously disadvantaged communities through the provision of financial access and high growth and good return prospects from this sector. “We are delighted to align with a commercial investor who understands the importance of Q Link’s continued independence as a strategic payment collections partner for several insurance companies in South Africa,” stated Smith.Q Link services more than 4.5 million employees, collecting R4.5 billion in monthly premiums for over 133 clients, many in the insurance industry.

“The concept of ‘affordability and control’ ensures that only valid and affordable deductions are processed through employee payrolls,” the company stated.

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