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Home Startups 1K1V partners Crossfin, completes Sybrin Acquisition.

1K1V partners Crossfin, completes Sybrin Acquisition.

by Weddy Thuranira
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The Sybrin Group of Companies (Sybrin) transaction has been completed by One Thousand & One Voices (1K1V) in partnership with diversified FinTech investment holding company Crossfin Technology Holdings (Crossfin) and investor Isaac Mophatlane. On March 31, 2022, all conditions precedent and approvals for the transaction were fulfilled.

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 1K1V said: “With Sybrin as part of the 1K1V 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 1K1V, together with Isaac Mophatlane, we anticipate an increase in collaborations within many African countries.”

“Our partnership with 1K1V 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.

1K1V ® is a private equity capital fund that combines industry-leading families’ Intellectual Capital, Relational Capital, and Financial Capital—or Three-Dimensional Capital ® —to improve the best of what private equity investment has to offer.

Crossfin invests in high-growth and established cash-generating businesses, providing investors with a diversified portfolio of FinTech investments. Crossfin aims to have an impact on technology from the point of processing to the point of fulfillment, either directly or through partnerships.

Sybrin is a global technology company that provides clearinghouses, commercial banks, and corporates with payment and information processing solutions.

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