APIS GROWTH I (B) LP
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
FMO has committed US$ 15mln to APIS Growth Fund I, which realized a first close of USD$ 157mln. The Fund has a target fund size of USD 250mln and will invest primary capital in "asset light" financial services companies. Examples of these companies are financial services companies with alternative distribution models (such as mobile banking or microfinance) and companies that provide infrastructure for the fast growing financial services sectors (payment systems, ATM’s, switching). Most of these businesses have a substantial technology component (so called "fintech" companies).
What is our funding objective?
APIS Growth Fund I addresses the growing need for financial services in selected emerging markets, which still contain large unbanked populations. These markets require different business models because a large part of their population lives in rural areas and relies more on (mobile) technology and/or alternative distribution models. It is APIS' vision that the business models it is supporting will change the financial sector and will contribute to economic growth and financial inclusion.
Why do we fund this investment?
FMO is investing in APIS because of its well-articulated and distinct investment strategy and because of its specialized and experienced investment team. But equally important, by investing in APIS, FMO intends to contribute positively to financial inclusion in Africa and Asia. Regional focus is put on Africa and Asia, with primary concentration on Ghana, Kenya, Ethiopia, Morocco, Nigeria, South Africa, Tanzania, India, Indonesia, Pakistan and Sri Lanka. Growth opportunities are substantial in these markets mainly because of an expanding demand for financial services. New and innovative business models enable greater access to financial services to widely dispersed low income populations, driving financial inclusion.
- Website customer/investment
- http://apis.pe/
- Country
- Global
- Sector
- Financial Institutions
- Effective date
- 8/21/2015
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B