Apis Partners

What Apis Partners does

Apis Partners is a London-headquartered private equity manager founded in 2014 by Matteo Stefanel and Udayan Goyal, specialising exclusively in tech-enabled financial infrastructure and services across Europe and growth markets (Africa, Middle East, South and Southeast Asia). The firm invests minority capital with strong governance rights into growth-stage businesses with proven unit economics, spanning payments infrastructure (Paymentology, Thunes, Coda, KPay, Cashfree), digital banking (GOTymeBank, Moneybox), insurance technology (Roojai, Renewbuy), lending (MNT-Halan), and adjacent embedded-finance verticals including payroll and education finance (BIPO, Leap). Apis pursues a hands-on value-creation model focused on M&A sourcing, management-team strengthening, geographic expansion, and active exit management to strategic acquirers.

The firm operates three global offices (London, Dubai, Singapore) with 40+ investment professionals and is authorised and regulated by the UK Financial Conduct Authority (FRN 1013608). It markets and distributes its funds through private placements to institutional limited partners including sovereign wealth funds, pension funds, and foundations, complemented by annual investor conferences, industry events, and thought-leadership content. Underlying technology at the firm level is limited to investor-relations and impact-reporting infrastructure, including the proprietary Apis Impact Management System (AIMS); the firm's competitive differentiation is sector specialisation, regulatory connectivity across multiple jurisdictions, and LP relationship depth rather than technology.

Revenue is generated through two streams: recurring management fees calculated as a percentage of committed or invested capital across its funds, and performance-based carried interest aligned with LP returns upon successful exits. Apis has raised three successive funds of increasing size ($287M Fund I, $563M Fund II, $1.23B Fund III) and reached $2.3B in aggregate assets under management, with cumulative portfolio realisations exceeding $1B across Fund I and Fund II in Q1 2026.

Name

Apis Partners

Legal name

Apis Partners Group (UK) Limited

Website

https://apis.pe

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Apis Partners is a London-based private equity manager founded in 2014 that invests exclusively in tech-enabled financial infrastructure and services companies across Europe and growth markets, raising capital from institutional limited partners via sector-specialist funds.

Ownership category

akta.pro rank

Product category

Private Equity Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Miscellaneous Intermediation (523910)

SIC

Investors, Nec (6799), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro industry

PRIMARYFSANACAA

Technology & Software Growth Equity

Financial & Insurance/Private Equity & Venture Capital/Growth Equity Firms

SECONDARYFSANACAJ

Telecom, Networking & Infrastructure Growth Equity

Financial & Insurance/Private Equity & Venture Capital/Growth Equity Firms

SECONDARYFSAEALAB

Private Equity Fundraising Placement

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Placement Agents & Capital Raising Intermediation

Keywords

• Private equity investing
• Financial infrastructure funds
• Fintech growth investments
• Emerging markets asset management
• Venture growth investing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Management Fees: Apis earns management fees on funds under management, typically calculated as a percentage of committed capital or invested amount.
2. Carried Interest: Performance-based carried interest from fund investments, aligning Apis with LP returns upon successful exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Apis Partners is a private equity asset manager that raises and deploys capital through investment funds (Fund I, II, III) into growth-stage, tech-enabled financial infrastructure and services companies across Europe and growth markets. The firm takes minority positions with strong governance rights, providing hands-on strategic support including M&A sourcing, management team strengthening, and geographic and product expansion assistance to portfolio companies. Revenue is generated through management fees on assets under management and carried interest from successful exits.

Product overview

Apis Partners is a private equity firm that invests exclusively in tech-enabled financial infrastructure and services companies. Rather than offering a unified software product or platform, the firm deploys capital into a portfolio of growth-stage businesses across payments infrastructure, digital banking, insurance technology, lending, and workforce finance platforms. The firm's investment products are structured as private equity funds (Fund I at $287 million, Fund II at $563 million, and Fund III at $1.23 billion), which provide growth capital, strategic guidance, and operational support to portfolio companies including Moneybox (digital wealth management), Paymentology (card issuing and processing), Coda (digital content monetization), GOTymeBank (digital banking), KPay (merchant acquiring), MNT-Halan (digital lending), BIPO (payroll and HR solutions), Roojai (direct-to-consumer insurance), Thunes (cross-border payments), and Leap (embedded education finance).

Differentiator

Problem solved

Functional benefit

Products and services

• Apis Growth Fund I The firm's inaugural private equity fund that deploys growth capital into financial infrastructure and services companies across Europe and growth markets. Targets institutional LPs as investors.
• Apis Growth Fund II The firm's second private equity fund continuing the strategy of investing in tech-enabled financial infrastructure and services companies. Returned over $400 million to investors from exits including iKhokha and Baobab.
• Apis Growth Fund III and Apis Growth Markets Fund III (Apis Global Growth Fund III) The firm's third flagship private equity fund(s) targeting tech-enabled financial infrastructure and services across Europe and growth markets. Already deployed approximately $400 million across seven investments including MoneyBox, Coda Recharge, Thunes, KPay, BIPO, and Paymentology. Includes financial inclusion focus in Africa and Asia.

Quantifiable outcome

• Portfolio realisations of over $1 billion across Fund I and Fund II in Q1 2026
• +4 more outcomes

Named customers10 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• LeapFrog Investments: Global PE firm exclusively focused on financial services and insurance in growth markets, taking minority stakes in emerging market fintechs. Direct strategic and geographic peer to Apis, competing for similar assets in Africa and Asia.
• Quona Capital: Venture and growth equity firm investing in fintech across Latin America, Africa, India, and Southeast Asia. Highly comparable strategy of backing tech-enabled financial inclusion at growth stage with a similar ticket size.
• Actis: Growth markets PE firm with dedicated financial services vertical and offices in growth market hubs. Several Apis partners previously worked at Actis, making it a closely overlapping competitor in financial infrastructure deals.
• Helios Investment Partners: Africa-focused PE firm investing across financial services, consumer, and infrastructure. Direct competitor for Africa fintech deals and shares Apis's London base and Africa/MENA portfolio focus.
• Anthemis (FNZ): Fintech-focused investment and advisory firm now part of FNZ Group. Closely comparable thematic focus on financial infrastructure with both capital and advisory offerings.

Emerging players

• Novastar Ventures: East Africa-focused growth equity firm backing financial services and consumer businesses. Narrower geographic scope but overlapping sector thesis and growth-stage minority investment model.
• Goodwell Investments: Africa and Asia-focused impact investor backing financial inclusion and fintech businesses. Comparable minority growth equity approach and financial inclusion thesis, though smaller fund size.
• Elevar Equity: Emerging markets PE firm focused on financial services for the underserved. Strong overlap with Apis's financial inclusion thesis across India, Southeast Asia, and Latin America.

Regional players

• AfricInvest: Pan-African PE and venture firm with a dedicated financial services platform. Direct competitor in North and Sub-Saharan Africa fintech deals, though with a broader sector mandate.

Broad incumbents

• KKR: Global alternative asset manager with growing fintech and financial infrastructure franchise. Competes for larger growth-stage fintech deals and increasingly for the same institutional LP capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/apis-partners
• Xx.com/apispartners

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments55 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Apis Partners