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Apis Partners Raises $550 million to Support African & Asian Fintechs

Tech Gist Africa by Tech Gist Africa
12/18/2019
in Africa, Africa News, News
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Apis Partners Raises $550 million to Support African & Asian Fintechs

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Apis Partners, a London-based private equity firm has raised $550 million for the Apis Growth Fund II. They will use the funds to support fintech startups across Africa and Asia.

Apis Partners is a private equity firm that focuses on driving financial services using innovative technology. The company provides growth-stage fintechs with catalytic growth equity capital. It secured the recent funds from investors. Some the investors include; global financial institutions, insurance companies, pension bodies and sovereign wealth funds around the world.

The $550 million Apis Growth Fund II secured exceeds the targeted $400 million the company required. This succeeds the $287 million it invested during the Apis Growth Fund I in 2016. Apis Partners has completed 14 investments in financial services across multiple sectors to date. In Africa, it has invested in Direct Pay Online (DPO) Group, QLINK, Crossfin Transactional Solutions, Efficient Group, Tutuka, Greenlight Planet, Baobaba and Transfast.

 


See Also: FSI Launches First Fintech Innovation Sandbox in Nigeria


Apis Growth Fund II will make equity investments of between $30 million and $50 million into financial services. It focuses on financial technology companies across markets in Africa and Asia.  The sum will be invested in selected fintechs involved in payments, credit and savings, insurance, technology, service provision and capital markets. It will support innovative business models and financially include the unbanked and under-banked population.

Matteo Stefanel, the cofounder and Managing Partner of Apis Partners expressed his profound gratitude for the support of investors. 

Apis recognizes the strong potential of the growing fintech sector in both continents. The year 2019 has witnessed a significant number of investments in fintechs. The sector is viable and is one of the most important sectors globally. 

 

 

 

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