Pierre F. Suhrcke

Apis Growth Fund I celebrates successful exit from PayTech Adumo Apis Growth Fund I, a private equity fund managed by Apis Partners, a UK-based asset manager, will have fully exited its position in South African merchant acquirer Adumo following Adumo’s acquisition by South African FinTech Lesaka Technologies, announced yesterday. Formed 10 years ago, Apis aimed to achieve superior returns and create positive societal impact, recently highlighted by their recognition in the ImpactAssets 50 database. Adumo, established in 2019 with investments from the Fund and Crossfin Holdings, catalysed the merger of three premium payments businesses—Sureswipe, Ikhokha, and Innervation—creating a robust platform. Adumo now serves about 70,000 active clients and processes roughly R80bn transactions annually. Post-acquisition, Lesaka’s ecosystem will likely encompass 1.7m active clients and over R250bn in annual throughput. The collaboration between Apis, Crossfin, and Adumo has significantly advanced financial inclusion and sustainable economic growth across Africa. Since the Fund’s investment, Adumo has been pivotal in bridging the payment acceptance gap in South Africa, enhancing digital and mobile transactions, which in turn increased customer retention and footfall. Apis has been crucial in value creation at Adumo, facilitating multiple acquisitions, including GAAP and Wirecard South Africa, which expanded Adumo’s geographic reach. The Apis team also supported major capital raises, securing significant funding from the IFC to accelerate Adumo’s growth. Matteo Stefanel, Co-Founder and Managing Partner at Apis Partners, remarked: “It has been a pleasure to work with all at Adumo over the past few years. Our teams’ shared goals of impact creation and increasing financial inclusion are demonstrated by Adumo more than doubling the value of transactions it processes for SMEs in South Africa during the Fund’s holding period. We believe the transition into Lesaka’s ecosystem is a perfect fit for Adumo’s next phase, and we look forward to being a part of it as Lesaka shareholders.” Udayan Goyal, Co-Founder and Managing Partner at Apis Partners, added: “We are very pleased to announce the sale of the Fund’s interest in Adumo, which marks a significant achievement for both Apis and Adumo. Adumo was a pioneer in using a verticalisation approach to provide the best in class service to its clients. This transaction underscores Apis’ commitment to identifying and investing in innovative, high-growth opportunities within the financial services and technology sectors.” News credit FinTech Global #news #fintechnews #fintech #usdt #usdtbuysell #finance #paymentgateway

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𝗪𝗵𝘆 𝗺𝗼𝗱𝗲𝗿𝗻𝗶𝘀𝗶𝗻𝗴 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗯𝗲 𝗮 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝗨𝗞 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁? "The digitisation and modernisation of the UK's capital markets can be positively transformational for communication between issuers and investors, capital-raising, productivity and future innovation." Following the election of a new Labour government, growing our financial services sector, and enhancing one of the UK's most globally competitive industries will remain a key priority.  In an article published by the World Economic Forum, Chris Elms, CEO of Euroclear UK & International, highlights the need to prioritise modernising financial services to remain globally competitive. Here are some highlights: ✔️ The financial sector is vital to the #UK Economy, contributing over £110 billion in taxes and accounting for 12% of economic output. ✔️The next UK government faces a delicate balancing act - managing spending, debt, and tax levels. To thrive, we must prioritise investment and productivity. ✔️Digitisation can enhance market efficiency and transparency – as recommended by the Digitisation Taskforce to remove paper-based processes and create a single digital register. ✔️A modern shareholding framework can empower retail investors by improving transparency and accessibility. It is possible to unlock an extra £740 billion of capital.   #Euroclear, as a financial market infrastructure, stands ready to support the modernisation of the UK capital market. From running the #CREST securities settlement system to offering innovative securities servicing tools, we are dedicated to working towards a more resilient, fully digital UK financial landscape. Read the full article: https://lnkd.in/gbk6JWqG

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Lydia, the French mobile payments app, has announced the launch of a new challenger bank proposition, investing €100 million in the venture and planning to hire 400 people over the next three years. This strategic move marks a significant expansion for Lydia, now an e-money institution that serves over eight million users with a comprehensive range of financial services. The new banking entity, named Sumeria, will provide current accounts, joint accounts, savings, credit, and investment services, along with a dedicated IBAN and associated Visa debit card. This decision to split the business into two distinct entities aims to cater to diverse user preferences. While Lydia will refocus on being a simple peer-to-peer (P2P) payments app for quick transfers between friends and contacts, Sumeria will offer a full suite of banking services. The rationale behind this strategic shift was to avoid alienating users who preferred a straightforward P2P payments app without bundled banking services. To date, two million of Lydia’s eight million users have engaged with its broader financial offerings. Sumeria has ambitious goals, targeting five million customers over the next three years. To enhance customer experience and provide personalized support, Sumeria will open a flagship bank branch in Paris, inspired by the Apple Store's Genius Bar. This branch will offer hands-on guidance and support for individuals looking to open accounts and explore the full range of services. This innovative approach signifies Lydia’s commitment to meeting the evolving needs of its users while expanding its footprint in the financial services sector. By differentiating its P2P payments and banking services, Lydia and Sumeria are poised to drive significant growth and innovation in the fintech landscape. Stay tuned for more updates as Lydia and Sumeria continue to reshape the future of digital finance!

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Is this a sign of the Fintech market evolving? 🤔 Allica Bank launched in 2020, and the digital bank have reported their first profitable year - with profits rising from a £1.6m loss in 2022 to a pretax profit of £16.1m in 2023. Their focus on transforming banking for the critical SME market, a surge in deposits and lending growth, as well as a boost from higher interest rates, aligned a strong strategy for the firm to thrive, even in challenging market conditions. 💡 If you are Fintech or Banking professional looking towards new growth as a company or individual, get in touch with Bob Mitchell for a conversation about how you can harness talent potential early to get ahead of the market. 📩 #fintech #banking #growth

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13books Capital closes £121m fund to back Europe’s fintech startups. 📈 The fintech fund will back rounds from seed to Series A ranging from £1m to £7m. The close comes as VC investment in the UK has started to show signs of recovery from the slowdown over the past two years. Fintech in particular has recovered well, becoming the UK’s best-funded tech segment once again in the first quarter of 2024. ➡️ https://lnkd.in/diVkG9-7 🔗 #investment #fintech #funding #startups #europe #UKtech

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Cboe Clear Europe Successfully Participates in ECB Experiment on Use of DLT Vikesh Patel, President, Cboe Clear Europe, said: “As Europe’s largest and most-connected pan-European clearing house, our core mission has always been to advance Europe’s post-trade landscape. Our successful participation in the ECB’s exploratory work, alongside ABN Amro Clearing Bank N.V., demonstrates our commitment to innovation and building our understanding of new technologies such as DLT.” https://lnkd.in/e-haU_uE #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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SME Savings Tracker Reveals Banks Withheld More Than £200 Million of Savings Interest from British SMEs in Just a Month Richard Davies, CEO of Allica Bank, said: “SMEs across the country are getting ripped off when it comes to their business savings. By tracking the rates that major banks offer to their small business customers it shows that nothing is changing. “The Bank of England Base Rate has consistently sat at over 5% for almost a year now, which means there is no excuse for banks not to be passing on better savings rates to their SME customers. “Seeing the continued stagnation of the rates offered to SMEs just confirms to me that they don’t value their small business customers. It’s an incredibly tricky time to be a business owner in the UK and every penny counts.” https://lnkd.in/eDmKxNP3 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Monzo has made a profit for the first time, having seen its revenue increase dramatically over the past year. This contrasts with reports, also out today, lamenting that FinTechs or "Neobanks" have failed to dislodge the big banks because their main revenue streams come from payments. Today, Neobanks offer credit cards, loans and savings products so profitability may become increasingly achievable. Despite a wider service offering, most people will continue to use Neobanks alongside a primary account for the short term. They remain important though. FinTech has changed how banking is done and has improved the customer experience. It has opened up a new range of role types and career paths in the new organisations and also in longer established banks. Healy Hunt provides specialist recruitment services for FinTech professionals across Financial Services. https://lnkd.in/ezx2CNr4 #fintech #neobank #executivesearch #recruitment #startup #scaleup

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🎙️ Get insider insights from Francis De Roeck, former EPC Payments Scheme Management Board member, in a riveting interview where he discusses European payments' past, present, and future 💡 Discover key highlights: - Evolution of #EPC from its inception to becoming a global authority in #ISO20022 #paymentschemes. - Recent game-changing developments like #SEPA Request-To-Pay and One-Leg Out Instant Credit Transfer. - The unstoppable wave of #digitaltransformation revolutionizing end-to-end #paymentprocesses. 🔮 Peek into the Future: - Real-time #payments are set to dominate, with possibilities like scheduling salary payments for specific times. - Integration of payments seamlessly into everyday activities, from car transactions to fridge reorders! 👉🏼Read the full interview here: https://lnkd.in/dkKRDa-3 🤩 Francis De Roeck will share his knowledge and critical insights on sanction, fraud, and transaction screening during our “Instant Payments - The Last Mile” conference on 10/09/24 in Brussels. Don't miss out on this invaluable opportunity to stay ahead in the payments game! Info & Registration ➡https://lnkd.in/d3sHhDdP #EuropeanPayments #InstantPayments #FutureofPayments #DigitalTransformation #paymentspack2024

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Marion King, OBL Trustee, commented: "Last month, we published Open Banking Standard v4.0, the first major release for several years, which has been developed collaboratively with the entire ecosystem.   The Standard has laid the foundations for a thriving open banking ecosystem which benefits 9.79 million active users and is worth more than £4 billion to the UK economy. OBL will continue to maintain and update the Standard to ensure it is robust and able to support the future development of open banking.” Find out more > https://lnkd.in/ec_2yJTm #OpenBanking #OpenBankingStandard #TechInnovation #Fintech #Innovation #FAPI #ISO20022 #OpenBankingEcosystem

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Watch now...the first episode in our vlog series "Consumer Voices, Financial Lives" is out now. You can watch the full episode here: https://lnkd.in/eX4x2f2Z #vlog #OpenBanking #Fintech #Finance #Credit

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How have 250 regional FinTechs successfully scaled, and what do we need to do, to create more firms like them? Our CEO Julia Streets on stage at #IFGS2024 now with Julian Wells from Whitecap Consulting for the Report Launch: Scaling UK Regional FinTech. #fintech #scalingfintechUK

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Andy Efstathiou has published a new NelsonHall blog post: 'Evolving Practices in Core Banking Platform Transformation'. Andy will publish a market assessment on transforming core banking services in September to delve deeper into this market. It will identify how the market is evolving, what services banks are buying to support their transformation efforts, and the benefits being realized: https://lnkd.in/eWwccMhp #Banking #Finserv #AI #RPA #Risk

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What does PSD3 mean for cross-border payments? An excellent deep-dive report by FXC Intelligence's Joe Baker on this critical topic for the sector: The report will get you up to speed fast on the topic and covers: - What is PSD3 and its benefits - PSD3’s impact on open banking - How this may level the playing field between banks and non-banks - What have been the main EU payments initiatives to date - What the European cross-border payments landscape looks like - What are cross-border payments companies doing to prepare for PSD3 #fxcintelligence #payments #fintech #financialservices #regulation #banking #openbanking https://lnkd.in/edXUtYpf

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ColCap UK and Molo Complete £300 Million Securitisation ColCap UK’s Treasurer, Paolo Tanca, commented, “This deal represents a significant milestone for us, showcasing our ability to structure and execute successful RMBS transactions in the UK market. We are excited about the opportunities for future growth and expansion.” Esther Morley Matthew Kimber https://lnkd.in/eyBXKnyR #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Ramify Raises €11m to Become the French Leader in Premium Wealth Management Olivier Herbout, co-founder and Chief Investment Officer of Ramify, states: “We thank our investors for their trust. The success of this funding round, achieved despite the challenging economic context for tech and particularly fintech, underscores the relevance of our value proposition. This operation marks a major milestone in the Ramify journey and will enable us to become the leading premium investment solution for the new generation of investors in France.” https://lnkd.in/eD6-rJaX Michael Sim Fidelity International Strategic Ventures 13books Capital Michael McFadgen #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Diensten Tech, a company that recently went public (IPO), had a very successful debut on the National Stock Exchange (NS - New Post: Diensten Tech Shares Soar on NSE SME Debut! https://buff.ly/3W93qUg #marketnewsviews #dienstentech #investing #investment #ipo #marketwatch #nse #sme #stockmarket

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🔦 Shining a spotlight on our partnership with Wiserfunding! Wiserfunding is a data-driven platform that helps invoice finance lenders manage their SME customers' risk smartly and efficiently. Amongst a host of different metrics, including the pioneering Altman SME Z score, Wiserfunding users benefit from fully standardized, timely accounting data in the platform – straight from the source of the business by API. With our aligned views on the power of data to inform smarter and faster decisions we're really excited to be working together to make a big difference to how lenders operate!   But what does it look like? Find out more in the link in the comments and get in touch to be amongst the first to adopt! #DataDrivenLending #TechnologyEcosystem #InvoiceFinance #ReveivablesFinance James Hillier Mike Gallop

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How is R3 championing #DLT in #regulated #financial markets? R3's Kate Karimson (née Henry) spoke to Disruption Banking on how #DLT has the potential to fundamentally reshape the future of money and finance in a powerful and positive way. Throughout the piece discover the current and future state of #CBDCs, #interoperability and the critical role of open, collaboration and further education to progress markets. Read here: https://lnkd.in/ez82JKnh

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