Brief: Private equity buys into payments 05 November 2020 5:51AM Briefs, Payments, mobile & wallets, IT systems IFM Investors' private equity growth fund has made its first transaction, taking an equity stake in the construction payments software provider, Zuuse. This firm operates under the Payapps brand in Australia, New Zealand and the United Kingdom, and as GCPay in North America. IFM, owned by a group of industry pension funds, paid approximately A$50 million for what IFM said is "a significant minority interest" in Zuuse. The firm commercially launched its Payapps system in Australia in 2016, and said the latest injection of cash will fund expansion of Payapps in Australia, New Zealand and in the UK, and GCpay in North America.