Apis Growth Fund II in micro-lending deal
Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, has made an investment in Ezra, a micro-lending fintech which provides “easy and rapid” credit solutions across Africa and emerging markets.
Ezra partners with leading financial institutions and platforms – such as mobile wallets, mobile networks, utilities and e-commerce companies – to offer a wide range of customised lending products including cash loans, token advances, airtime credits and device financing to their clients, all based on a single integration. These partnerships empower tens of millions of consumers and entrepreneurs in financially underserved markets through innovative credit solutions, allowing them to instantly borrow, from a few cents to a few hundred dollars.
As a result of this new investment, Ezra plans to accelerate its geographical expansion, growth and talent acquisition. It will focus on targeted new segments, particularly SMEs, which are the backbone of emerging markets’ economies and are still financially underserved.
Matteo Stefanel, co-founder and managing partner at Apis Partners said, “We are thrilled to be part of Ezra’s journey; it is extremely rewarding to experience first-hand how embedded finance solutions can promote sustainable growth both for individuals and SMEs whilst enabling its partners to better serve their customers.”
Udayan Goyal, co-founder and managing partner at Apis Partners added, “Ezra empowers underserved consumers though embedded finance which is aligned with the Apis vision of creating impact. We believe the fund’s investment will accelerate the company’s growth further, and we look forward to working with Erwan and the team through our investment in the company.”
Erwan Gelebart, CEO at Ezra commented, “At Ezra, we work hard to financially empower people who have historically been denied access to essential financial services, to uplift their lives and businesses. I am delighted that Apis has recognised our commitment to greater financial inclusion; I now look forward to working with the Apis team and building further upon Ezra’s global reputation for excellence.”