Money4Jam has been in a state of limbo since March and has been seeking investors to help it stay afloat.

Now, it’s found one in the form of Informal Solution Providers.

Informal Solution Providers are involved in Telco product distribution, marketing and sales, so it makes sense then that they are now the new owners of the hugely popular app that had South Africans completing odd jobs for money.

However, it appears that Informal Solutions Providers is absorbing the Money4Jam brand in its entirety. We say this because Informal Solution Providers is rebranding the service as M4JAM and will be trading under that name moving forward.

There also appears to be no official website for Informal Solution Providers, save a spot on the DNI Group’s website, of which Informal Solution Providers is a subsidiary

Informal Solution Providers chairperson, Andy Payne explained in a statement that the M4JAM service falls closely in line with the firm’s desire to reach its market more effectively and were in the process of building a similar service when the two service crossed paths.

“We were building our own platform when we came across M4JAM,” Payne explains. “We then realised their application [M4JAM] was a near perfect match to our requirements, but with a lot of added appeal.”

As for the jobbers who use the service Informal Solutions has plans to enhance the platform for existing users and enhance their experience.

Chief executive officer of Informal Solutions, Richard Dunn, echoes this in a statement saying that the acquisition will serve to make the platform more engaging for jobbers.

“We are crowdsourcing ideas around our re-launch. Our intention is to give our jobbers a voice and allow them to be part of the exciting new direction that M4JAM is embarking on,” Dunn said.

Bizarrely however, Informal Solutions has asked jobbers to complete the non-paid jobs while the acquisition is finalised.

We aren’t sure how many people using M4JAM are using the service to do jobs for love and charity but if you’re so inclined you can visit the M4JAM website to find out more.