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Apis Partners Invests in India-based Electronic Payment and Services (Asia)

Apis Partners, a private equity asset manager focused on financial services in Africa and Asia, has acquired a minority stake in Electronic Payment and Services (EPS), an India-based ATM outsourcing and payments company. Apis has reportedly agreed to invest US$35 million in the company, of which US$25 million was paid in an initial tranche. The transaction was structured through Apis Growth Fund I. To date, EPS has deployed approximately 5,000 ATMs across 28 Indian states and intends to use the new capital to accelerate its expansion.