British International Investment (BII), the UK’s development finance institution and impact investor, has underlined its support for fintech entrepreneurs with a USD40 million commitment to the Apis Growth Markets Fund III (Apis III).

This marks the third occasion that BII has supported an Apis fund. The collaboration between BII and Apis dates back to 2015 when BII provided a USD30 million commitment to anchor Apis' inaugural fund. The partnership continued in 2019, with BII contributing USD50 million to Apis' second fund. Apis specializes in investing in digital financial services companies, with a particular focus on those engaged in payment and credit services. BII's latest investment in Apis aligns with Sustainable Development Goals, aiming to enhance economic opportunities for consumers and businesses by improving their ability to manage liquidity, investment, and risk. BII's commitment to Apis III is instrumental in helping Apis achieve its target fund size, especially at a time when there is reduced interest from commercial investors in fintech businesses in emerging markets.