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Invested March 6, 2017 - Exited August, 2019


Transfast is a leading omni-channel provider of multi-currency cross-border payments solutions to consumers and businesses around the world. The company operates a self-curated network across more than 120 countries and 250,000 payout points in Africa, Asia, the Americas, the Middle East, and Europe with a multi-product capability, including a leading instant bank transfer offering.


Dubai, UAE




Africa & Asia



Where did the idea behind Transfast come from?

Having grown up in Nigeria and India I had experienced issues with sending money abroad first-hand. Over the years I had become convinced that a better, more transparent service could be offered, I set out to build a cross-border money transfer business after a career in investment banking in emerging markets. Once I had researched the market, I secured private equity funding in 2007 to acquire Transfast as a cornerstone to this strategy. Since then, we led the successful expansion and diversification of the business from a single corridor to a leading, global, multi-corridor and multi-channel cross-border payments platform with over $7bn in gross send volumes (4th largest globally) across one of the largest (top 3) cross-border payments networks covering 120+ countries.

What is it like to work with Apis?

As a Financial Services specialist investor with a focus on emerging markets, Apis has been able to add value to the company from the start. As growth in our business is principally driven by the receive markets of Africa and Asia, it has been highly advantageous to work an investor so aligned to our vision and with the relevant market knowledge and connections to help us grow out the receive network. The Apis team is also able to provide continuous strategic guidance based on their expertise in the payments and remittance sector.

Which are the biggest opportunities for Transfast’s business?

The Transfast platform is well positioned to continue growing its market share in the c.US$34 trillion cross-border payments market. With a backdrop of rebalancing economic landscape (rise of the demand economy, global growth being increasingly driven by emerging markets, increased global trade), this is a huge opportunity for Transfast to tackle. Apis is playing a key role by providing global connectivity and deep sector expertise. How does Transfast contribute to its local audience? Many of our customers are migrant workers in North America and the Middle East who send money to their families in Africa and South / South East Asia. We always felt strongly that our value proposition was to enable our customers to send and receive money anywhere in the world, in the form that is most convenient to them (bank transfer, cash at an agent, mobile wallet, etc.) using a cost-effective, transparent, reliable, high-quality service.