Apis Partners is backing Bankers Warehouse with a reported $30 million in exchange for a significant stake

UUBO’s private equity team advised APIS Partners on their Investment in Bankers Warehouse PLC, the leading provider of cash management solutions to banks (including the Central Bank in Nigeria) and corporate entities in Nigeria. The deal team was led by Mr Dan Agbor, the firm’s Managing Partner and Mrs. Ozofu Ogiemudia, a partner in the firm’s private equity team, as well as Managing Associate, Christine Sijuwade. Associates Temiloluwa Olowu and Chetanna Okonkwo provided additional support. The investment by Apis will be used to support the growth of the company’s existing cash processing and cash-in-transit services, strengthen its capital structure and to expand the company’s presence nationally. The transaction demonstrates Apis’ commitment to the development of the financial services sector in Nigeria by, amongst other things, leveraging already existing technology within the cash logistics system to improve user confidence and inclusion within the digital financial system.