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Apis Growth Fund I sells Q Link interest to Sanlam Private Equity

Apis Growth Fund I, a private equity fund managed by Apis Partners (Apis Partners), a UK-based asset manager that supports growth stage financial services and financial infrastructure businesses, is to sell the whole of its interest in payment solutions provider Q Link Holdings Ltd (Q Link) to Sanlam Private Equity (SPE).

Q Link provides payment application software to improve collection rates for the insurance industry and other third-party benefits providers in South Africa, while optimising costs. The company facilitates collections for over 30% of all recurring retail life insurance premiums in the country, and has focused on putting customer welfare at the centre of its business model, through introducing concepts such “affordability and control” to ensure that only valid and affordable deductions are processed to payrolls.

The Fund initially invested in Q Link in 2017 and, with follow-on investments, acquired a 47% direct shareholding in the company. During the investment period, Apis has leveraged its extensive experience in global financial services and Insurtech to assist Q Link in developing new products and driving the acquisition of Q Sure in 2019, a company which provides a cutting-edge collections platform for short-term insurance premium payments. This sale of Q Link represents a successful exit for the firm and its LPs.

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