A fintech firm in Nigeria, O3 Capital, has been awarded the Payment Card Industry Data Security Standard version 3.2.1 certification 2022. The PCI version 3.2.1 compliance certificate was awarded to the firm by a Quality Security Assessor, Sync InfoSec LLC, Roanoke Texas, United States (U.S.), on behalf of the PCI Standards Security Council and in […]

O3Capital awarded 2022 PCI DSS certification

‘We aim to be preferred credit card issuer for years to come’

Businessday Ng -
O3 Capital CEO seeks more collaboration between banks, FinTechs
Sep 12, 2021
Fintechs are more of the last man to get to the end user. For instance, money has to move from one bank to the other. So, if we don’t collaborate with the banks, that will not help. Share
Abimbola Pinheiro, founder and chief executive Officer of Nigeria’s foremost FinTech, O3 Capital Limited has emphasised the need for more collaboration between deposit money banks in the country and FinTech to deepen financial services in Nigeria. Pinheiro, who made the call in a chat with journalists in Lagos also called on Nigerians to embrace cashless transaction and use credit cards for their immediate needs. According to him, “For me and for us at 03 Capital, we at the fore of collaboration with banks, because everything is like an ecosystem. No matter what you do, there is always someone that can add more value to it. Fintechs are more of the last man to get to the end user. For instance, money has to move from one bank to the other. So, if we don’t collaborate with the banks, that will not help. “The telcos are there providing services, we have to collaborate with them because without them our POS terminals will not work. We always preach that look, you can’t be everything to everybody. So if in the case of where banks do wholesale bank, and let FinTechs like us do the retail to the end users, everybody wins and everybody makes their money.”
He added, “And the thing is that everybody is an expert in a certain area. I have told some banks in the past to leave the retail business to the retail experts. So banks have tried to do some funny FinTech arrangements, they have not had good experiences. But at 03 Capital we have default of less than 4 per cent, which is amazing. Because we know what we do, we know how to analyze our profiles, we know what algorithm to ask for, so there is no way you will not collaborate. And it is only a matter of time really because you cannot be everything. He added that O3 Capital is the bridge between the old brick and mortar banks and the future mobile or any kind of payment system. “Because Nigerians have affinity to cash, the next thing to cash is card. So what 03 Capital offers is a credit card or prepaid card that works on any platform. Now we have a mobile app that mirrors that card on your phone. So everything you can do on your card, you can do on your phone, transfer money, withdraw cash from the ATM, use a POS terminal, look at your balances, change your PIN, everything. “So it is that convenience that 03 Capital brings to the fore for people. So in terms of channel innovations, 03 Capital is like a financial supermarket where people will call a digital bank. Because we offer lending services, we offer saving services, we offer money management services. And we are awaiting the CBN approval to offer remittance services. And that is just the beginning.”
O3 Capital, he added, plans to expand its services to other countries and go global. “When we achieve that, Nigerians can take an 03 card from Nigeria and go anywhere in the world and get the maximum benefits available, “he said. Share
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O3 Capital CEO seeks more collaboration between banks, FinTechs

The existing investors - Bain Capital, Advent, and GIC, continue to remain invested. O3 Capital acted as the sole financial advisor to the transaction
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QuEST Global, a global product engineering and lifecycle services company, announced that leading global investors - ChrysCapital, True North Managers LLP, and other institutional investors – have invested $150 million for a minority stake in the company. The investors have completed the purchase of a portion of the shares held by the co-founders and management team of QuEST. The existing investors - Bain Capital, Advent, and GIC, continue to remain invested. O3 Capital acted as the sole financial advisor to the transaction. Ajit Prabhu, chairman & CEO, QuEST Global, said, “The investment by three of the most respected global investors, despite the ongoing pandemic crisis, is a testament to our ability to build and grow our business to become the most trusted thinking partner to customers. It also crystallises the value we have created for our shareholders and employees who have placed their belief in us and partnered with us in this journey.”
The product engineering space has seen a lot of M&A activity in recent times as the Covid-19 pandemic has accelerated the pace of digital transformation. Recently GlobalLogic was acquired by Hitachi. Two years back Capgeminihad acquired Altran Technologies in one of the biggest deals that the space had seen for $4 billion. Sudip Nandy, senior advisor Enhancin, ChrysCapital, said, “QuEST is one of the leading players in the engineering services space and has consistently outperformed its peers and demonstrated the ability to scale accounts in a fragmented industry, by becoming the core engineering partner to most of the top global firms across its target industry verticals. We are excited to back Ajit and the executive team at QuEST and look forward to working with them on the journey ahead.”
QuEST has been helping solve some of the toughest problems they face by creating new products, opening new market opportunities, and maximising efficiency. The company also provides an opportunity to its employees to learn and grow without limitations, develop expertise, collectively achieve aspirations and experience a rewarding journey. “QuEST is one of the top five players in the pure-play ER&D space and has built unique and deep expertise in an industry that is undergoing unprecedented digital disruption. As a leader in the engineering services space, QuEST has been offering strategic services to its customers rather than just a scale or merely cost differential. We were very impressed by the depth of engineering expertise and the diverse industries and emerging technologies in which QuEST is helping customers. We believe the ER&D space will continue to see significant growth and innovation in the years ahead, and we look forward to working with QuEST’s management team to capture these opportunities,” said Prasad Thrikutam – partner, True North. Dear Reader,
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ChrysCapital, True North Managers and others invest $150 mn in QuEST Global

Peninsula currently manages BRL 12 billion in own resources;
Diniz said that in the recent years he had been evaluating the opening of the FO to public investment. The investment holding company Península Participações, owned by Brazilian billionaire businessman Abílio Diniz, launched this week a new fund manager, O3 Capital. The company started offering a multimarket fund this week in which Península invested BRL 1.5 billion with a commitment to remain in the fund for at least three years, according to the Península vice-chairman, Eduardo Rossi. Península, created as Diniz’s family office and which currently manages BRL 12 billion in own resources, has stakes in companies such as BRF and Carrefour Brasil. The company also has a portfolio of investments in over-the-counter companies that includes stakes in the Benjamin bakery chain and the wine e-commerce Wine and is expected to launch a private equity fund by July. “The investment manager now opens the possibility of investing to the general public from BRL 1,000. O3 Capital is a local manager with global theses. It operates in the net interest, currency, credit, commodities, and equities markets, without geographic restrictions, and with the belief that the return happens in the long run, ”said Diniz, on a LinkedIn post.

Península, Brazil’s billionaire Abílio Diniz’s family office now allows general public investment

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