Mercy ANURIKA
Entersekt, a global player in device identity and payment authentication, announced a new investment from PAPE Fund 3 (PAPE), a mid-market South African private equity fund. Entersekt ’s software currently secures over 1 billion transactions every month, protecting millions of financial services customers across the globe. Entersekt is recognized as an innovator in the global authentication market, known for delivering market and industry firsts.
With this investment, PAPE joins Entersekt’s impressive shareholder base that includes Nedbank Private Equity, Rand Merchant Investment Holdings (RMI) and Accel-KKR (AKKR), a recognized global leader in private equity with a track record of successful investments in mid-market software and technology-enabled services businesses around the world. The investments are fueling Entersekt’s global expansion and supporting recent successes in regions such as the USA and Latin America.
Zuko Kubukeli, Principal, PAPE Fund Managers: ”Entersekt is a global market leader in the digital security landscape with scalable, world-class IT infrastructure and architecture. At PAPE, we back local entrepreneurs with a globally-competitive edge and provide strategic value-add and expansion capital. With the Entersekt team and shareholding structure, we believe we are poised for stellar growth.”
PAPE Fund 3 is a limited partnership, private equity fund managed by PAPE Fund Managers (Pty) Ltd, a Level-1 BBBEE FSP licensed fund manager. PAPE Fund 3 has ZAR1.03 billion in investor commitments. Institutional investors in PAPE Fund 3 include various South African pension funds and asset managers, a Dutch development bank, and a pool of family offices.
Schalk Nolte, CEO, Entersekt: ”We are thrilled to welcome PAPE on board. The fund has a very strong footprint in our home market of South Africa, and their expertise will bring a valuable perspective alongside our existing shareholders. PAPE’s investment helps us further bolster operational support as we scale Entersekt in our strategic focus regions. We look forward to achieving great success together.”
This article was taken from www.africabusinesscommunities.com. You can start earning money by becoming our Independent Reporter or Contributor. Contact us at IR@downtownafrica.com
Want to read more about the Africa other media don’t usually focus on? Go to [https://downtownafrica.com/subscribe/]
