IFC invests in new private equity fund targeting financial inclusion startups in Africa

, Initiatives CFC Fintech

IFC is making a $75 million equity investment in Apis Growth Markets Fund III, which will focus on fast-growing companies that are using technological innovations to expand access to financial services. IFC has also allocated an additional $25 million for selectively investing alongside the fund in Apis portfolio companies.

Several nations in Africa, Southeast Asia, and South Asia offer substantial prospects for technological disruptions within financial markets, particularly in segments like payments, consumer finance, and enterprise finance. Apis’ recently launched fund aims to invest in various countries, including Egypt, India, Indonesia, Kenya, Nigeria, and South Africa.

See also