Apis Growth Fund II, a private equity fund managed by Apis Partners, a UK-based asset manager, is looking to invest €29 million inCompletion of the investment is subject to the approval of South Africa’s Competition Commission, and customary procedural and closing conditions.It was founded by Jain and Andreas Demleitner in 2012 in Cape Town, offering a payment gateway to local online merchants. It expanded to Kenya in 2018 and Mauritius in 2021.
It adds it will leverage its networks and experience in scaling payment companies to support Peach’s growth and geographic expansion. “We have been impressed by the vision and execution of the management team, as Peach Payments capitalises on these trends to bring more end-users into the digital economy, a key part of our drive to democratise access across the continent. We look forward to partnering with Peach Payments to expand its reach into new markets with innovative merchant solutions.”