IFC Invests $75M in Apis Fund III for Embedded Finance in Africa and Asia

The International Finance Corporation (IFC) announced a $75 million equity investment in Apis Growth Markets Fund III, alongside $25 million in co-investment capacity, to back mid-cap fintech companies across Africa and Asia. The fund focuses on companies enabling embedded finance, payments, and commerce in underserved markets including India, Nigeria, and Indonesia. Apis Partners manages the fund as part of its strategy to improve financial inclusion through technology-driven financial services.

IFC has a track record with Apis, having previously invested $25 million in Fund II in 2019 and $15 million in South African fintechs Adumo and Peach Payments. The investment is intended to scale companies that provide financial infrastructure and embedded finance solutions to populations with limited access to traditional banking. The funding underscores growing institutional appetite for fintech infrastructure in emerging markets.