Source: Tech Central

New SA payments company emerges

Fintech holding company Crossfin Technology Holdings has announced a partnership with global fund manager Apis Partners to create an enlarged payments operating company that wants to transform the payments acceptance market in sub-Saharan Africa.

Apis Growth Fund I, a private equity fund managed by Apis Partners, has partnered with Crossfin through an investment in the new entity, called Crossfin Apis Transaction Solutions (Cats). Both partners will provide “significant capital support” to drive “customer-focused solutions in the merchant-acquiring space”.

As part of the initial platform, Crossfin will contribute its interest in iKhokha in South Africa and in Innervation Pan-African Payments.