South African Bank Capitec partners with Fintech Stub to automate small business financial management

Direct API integration eliminates manual bookkeeping for micro-enterprises and informal sector operators, connecting real-time banking data to accounting platform

South Africa's Capitec Bank has forged a strategic partnership with stub, a fintech startup specializing in accounting software for micro and small businesses, to automate financial record-keeping through direct API connectivity.

The collaboration enables automatic data flow from Capitec business and personal accounts directly into stub's accounting platform through integration with Capitec's transactional data API. This connectivity eliminates manual data entry and spreadsheet-based workarounds that typically burden small business operators with administrative overhead.

Founded in 2023, stub provides cloud-based accounting software designed as an alternative to manual bookkeeping methods. The platform tracks revenue, manages expenditures, processes payments, and maintains real-time financial records accessible to business owners.

The technical integration automatically synchronizes transaction information from Capitec accounts into stub's system, providing business owners with current visibility into income and expenses. The platform's automation extends to payment reconciliation, matching transactions to corresponding invoice numbers and categorizing expenses to appropriate ledger accounts without manual intervention.

Notably, the integration supports both business and personal Capitec accounts, acknowledging the reality that many South African micro-entrepreneurs, including spaza shop operators, tradespeople, freelancers, and side business owners, conduct commercial transactions through personal banking relationships rather than dedicated business 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," explains 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."

Dandridge emphasized that the partnership aligns with both organizations' recognition that entrepreneurs drive South Africa's economic engine. "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're 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."

The partnership addresses a substantial market opportunity. South Africa's informal and micro-business sector generates an estimated R750 billion in annual turnover, representing a fast-growing segment that traditional banking infrastructure has historically underserved.

Chris Zietsman, executive head of Capitec Business Payments, positioned the integration as consistent with the bank's strategy to support small business with transparent, accessible, and affordable solutions. "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," Zietsman stated.

He characterized the partnership as removing operational barriers to business management. "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."

The Capitec partnership represents stub's second major collaboration since launch. The company previously partnered with iKhokha, a point-of-sale technology provider, to power iK Accounting—a product that embeds accounting functionality directly into merchant payment systems. According to Dandridge, that initial partnership validated stub's approach of integrating accounting tools into platforms where entrepreneurs already conduct business operations.

Stub is currently testing integrations with three additional partners across different industry verticals, scheduled to launch within coming months. Dandridge outlined the company's partnership philosophy: "We work with businesses that are genuinely committed to empowering entrepreneurs by providing tools, insights and education that help small businesses succeed."

Since launch, stub has expanded its user base to approximately 4,000 entrepreneurs across South Africa. The platform has evolved from basic invoicing and expense tracking into what Dandridge describes as "a complete accounting and insights platform powered by automation and intelligent data models."

The Capitec integration delivers particular value to micro-entrepreneurs managing complex financial requirements including profit tracking, cash flow analysis, VAT compliance, and tax obligations. "For many entrepreneurs, this is the first time their financial story truly comes to life – understanding profit, cash flow, VAT and tax in a clear, simple way," Dandridge noted. "It highlights how fintechs and banks can collaborate to make financial tools simpler, more inclusive and more useful for small businesses."

The partnership exemplifies a broader trend of traditional financial institutions leveraging fintech partnerships to extend services into underserved market segments. By enabling real-time data connectivity between banking infrastructure and specialized business software, such collaborations reduce operational friction for small businesses while expanding addressable markets for both banking and software providers.