Ethos and ARC in R1.5bn fintech buyout
Ethos Private Equity and Patrice Motsepe’s empowerment investment vehicle team up in buyout of fintech platform Crossfin
Ethos Private Equity and Patrice Motsepe’s black empowerment investment vehicle, African Rainbow Capital (ARC), have teamed up in a R1.5bn buyout of SA fintech platform Crossfin.
The transaction is one of the largest private equity-led investments in the fintech sector in SA and will provide Crossfin, an investor in payment technology companies and small business funding providers, with the necessary capital to grow its underlying portfolio. The deal will also involve the exit of Crossfin’s founding investors Capital Eye Investments and the Multiply Group, which have been anchor shareholders in the group since 2017...