April 11, 2022
CAPE TOWN, South Africa & DENVER–(BUSINESS WIRE)-1K Africa, in partnership with diversified FinTech investment holding company Crossfin Technology Holdings (Crossfin) and investor Isaac Mophatlane, announce the completion of the Sybrin Group of Companies (Sybrin) transaction. All conditions precedent and approvals for the transaction were fulfilled on 31 March 2022.
“Now that we have officially partnered with 1K Africa, together with Isaac Mophatlane, we anticipate an increase in collaborations within many African countries.” Tweet this
Sybrin is a leading software solution provider helping predominantly financial services providers digitally transform and automate their business processes. The company also integrates its software solutions into the core line of business systems of middle-market and large enterprises, with current clients such as Microsoft, ABSA, MTN, Bidvest Bank, Kenya Bankers Association, Nedbank and Old Mutual. The industry giant has a footprint across 17 countries in Africa, the Middle East, the United Kingdom, Asia and Eastern Europe.
Hendrik Jordaan, President and CEO of 1kAfrica said: “With Sybrin as part of the 1K Africa and Crossfin consortium, we intend to expand Sybrin’s footprint internationally through deploying our Three-Dimensional Capital® and unlocking synergies opportunities across Africa in partnership with our other technology platform investments. Our partnership will ultimately connect Africa and the United States through the sharing of talent and technology expertise while further strengthening the already staunch relationship with the Sybrin management team. The partnership will allow us to further bridge the two continents with tremendous opportunities and continue improving people’s lives through creating and sustaining jobs.”
Dean Sparrow, CEO and Co-Founder of Crossfin, an investment company that offers investors a blended exposure to technology investments in Fintech said: “Now that we have officially partnered with 1K Africa, together with Isaac Mophatlane, we anticipate an increase in collaborations within many African countries.”
“Our partnership with 1K Africa and Crossfin, allows our business to gain significant additional leverage and valuable insight into the South African, African, and U.S. markets. The partnership will allow us to further bridge two continents with tremendous opportunities that will open up economic opportunities for tens of thousands of people. Through our experience in African technology investments, the Sybrin customer base, and networks that are already established across Africa, this partnership will yield vast opportunities for cross-border collaboration and technological innovation,” added Sybrin Group CEO Marius Mare.
About 1K Africa
1K Africa is a private equity capital fund designed to enhance the best of what private equity investment has to offer with the Intellectual Capital, Relational Capital and Financial Capital—or Three-Dimensional Capital®—of industry-leading families.
Crossfin invests in high-growth and established cash generative businesses, offering investors a blended exposure to technology investments in FinTech. Crossfin aims to influence technology across the value chain from point of processing to point of fulfilment either directly or through partnerships. For more information, please visit www.crossfin.co.za.
Sybrin is a global technology company providing payment and information processing solutions for clearinghouses, commercial banks and corporates. For more information, please visit https://corporate.sybrin.com.
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