Capitec has teamed up with stub, an accounting software start-up, to streamline financial management for small and micro businesses.
Under the partnership, Capitec has enabled direct integration between stub’s digital accounting software and the Capitec transactional data application programming interface (API).
Launched in 2023, stub is an alternative to spreadsheets and other manual accounting solutions. The software is used to track sales, manage expenses, get paid and access financial records in real-time.
In a statement, stub says the integration allows transaction data to flow directly from Capitec’s clients’ accounts into the stub accounting platform – eliminating the need for manual data capturing or other workarounds.
It explains that for small business owners, this means always having up-to-the-second insight into their income and expenses, enabling them to stay on top of their cash flow and business performance. The solution also automatically reconciles payments with associated invoice numbers and categorises expenses to the appropriate accounts.
The direct integration also supports Capitec personal accounts, recognising the reality that many South African entrepreneurs – from spaza shop owners and tradespeople, to freelancers and side hustlers – run their businesses through personal bank accounts.
“We launched two-and-a-half years ago to provide entrepreneurs with simple, accessible and powerful tools to enable them to build successful businesses,” says Tayla Dandridge, co-founder and CEO of stub.
“Our integration with Capitec bridges a critical gap for small business owners, many of whom haven’t had access to tools that integrate with the way they actually bank and work. Capitec shares our belief that entrepreneurs and hustlers are at the heart of South Africa’s economy.
“As a start-up with big ambitions for the future, we are proud to work with a bank that’s enabling the kind of innovation and accessibility to fintech tools that our entrepreneurs and small businesses need.”
Serving informal sector
This move forms part of Capitec’s broader strategy to serve South Africa’s fast-growing informal and micro-business sector, which accounts for an estimated R750 billion in annual turnover.
Chris Zietsman, executive head of Capitec Business Payments, adds: “At Capitec, we’re committed to supporting entrepreneurs and other small business with banking solutions that are transparent, easy to use and affordable.
“This integration with stub frees up time so that business owners can focus on growing their business and makes it easy for them to stay on top of what’s happening with their finances.
“By automatically linking banking data to accounting software, we’re removing one more barrier to running a business. This is our first API integration of this nature with a business software provider – a key milestone in our ongoing efforts to support the country’s entrepreneurial ecosystem through innovation and inclusion.”
In an e-mail interview with ITWeb, Dandridge says the start-up’s first major partnership was with iKhokha.
“We are the technology behind their iK Accounting product, which brings accounting tools directly to small businesses through their point-of-sale ecosystem. It was an early proof point of how technology can meet entrepreneurs where they are and help them better understand their numbers.”
Testing various verticals
According to Dandridge, stub is in the testing phase with three new partners across different verticals, which will roll out in the next few months.
“We work with businesses that are genuinely committed to empowering entrepreneurs by providing tools, insights and education that help small businesses succeed. Each collaboration strengthens stub’s mission to make accounting effortless and insightful for small businesses, meeting entrepreneurs where they already work, sell and get paid.
“Our integration with Capitec is a major step forward for us – both in accessibility for entrepreneurs and in driving impact across the broader ecosystem. It allows Capitec’s small business customers to connect their accounts directly to stub, giving them real-time financial insights into how their businesses are performing.
“For many entrepreneurs, this is the first time their financial story truly comes to life – understanding profit, cash flow, VAT [value-added tax] and tax in a clear, simple way. It highlights how fintechs and banks can collaborate to make financial tools simpler, more inclusive and more useful for small businesses.”
She notes that stub has seen growth since launch. “Today, we’re supporting close to 4 000 entrepreneurs across South Africa. What started with a single anchor partnership with iKhokha has now expanded into a direct integration with Capitec – and our community continues to grow every day.”
Dandridge explains that the product has evolved from simple invoicing and expense tracking into a complete accounting and insights platform powered by automation and intelligent data models.
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