Neither the size of the “strategic” stake nor the amount paid for it have been disclosed.
Launched in 2017, Payabill operates a 100% digital lending business that provides working capital and trade finance of up to R150,000 to small businesses.
The firm settles suppliers directly for its clients which then get to select their own extended payment terms.
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Michael Sassoon, CEO, Sasfin, says: “While Sasfin has always offered a trade and debtor finance solution, this was largely for more established businesses.
“The new offering speaks to smaller businesses that are passionate about growth, and our larger Trade and Debtor Finance offering will be there to support businesses that reach the next phase in their development.”