TymeBank secures US$110m investment from Apis Growth Fund II

SOUTH AFRICA – Digital retail bank TYMEBANK has secured an investment of US$110 million from new investors in the UK and Philippines to bolster growth and secure path to commercial success. TymeBank said the investment represents a strong endorsement for both TymeBank as one of the world’s fastest growing digital banks and for South Africa’s banking sector overall. TymeBank is the first bank in South Africa to be operated fully off a cloud-based infrastructure network and is also the first bank to be granted a commercial banking licence since 1999.…

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Apis Partners closes Fund II at US$550m in limited partner commitments

AFRICA – Apis Partners, a global investment manager that supports growth stage financial services and financial technology businesses by providing catalytic growth equity capital, has completed fundraising for Apis Growth Fund II with US$550 million in limited partner commitments. Investors committing to Apis Growth Fund II include global banks, insurance companies, development financial institutions, fund of funds, pension funds, sovereign wealth funds, and family offices, across major global investor markets in the U.S, Europe, Africa, Middle East, and Asia. Apis Growth Fund II expects to make equity investments of between…

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