Capria impact story: Team Apt
Capria supports fund managers that operate in local contexts and have deep awareness of market needs and dynamics. We work closely with fund managers in our network across all aspects of building an enduring, world-class investment firm, invest in their funds, and invest alongside them where there are opportunities to fund companies on the cusp of growth and scale. Within the funds we have backed, we estimate that 31% of their underlying portfolio companies reach rural communities.
Enter TeamApt, a leading financial technology company in Africa, digitizing the economy by building financial platforms for businesses; providing them with all the payment, banking, credit and business management tools they need to succeed. Capria and our fund partner Global Ventures invested to support Team Apt to scale. For many small- and medium-sized enterprises (SMEs) in remote areas that are embracing digital services for the first time, there is a dire need for a banking solution that combines digital tools with much needed last-mile service delivery. TeamApt is growing Nigeria’s largest card payments network, with over 400,000 businesses onboarded on their platforms, processing north of US $7bn monthly. Their all-in-one business solution aims to digitize Africa’s economy and is helping Nigeria’s 41 million small businesses grow, with access to quick loans, business bank accounts, tools to manage operations and improve their staff welfare.