Afriex
| Industry | Fintech |
|---|---|
| Founded | 2019 |
| Founder | Tope Alabi (CEO), John Obirije (CTO) |
| Headquarters | Wilmington, Delaware, United States |
Afriex is a United States registered financial technology company that provides cross-border payment and money transfer services. Founded in 2019 and headquartered in Wilmington, Delaware, the company provides international money transfer services across multiple continents.[1][2][3][4]
History
Afriex was founded in 2019 by Tope Alabi (Chief Executive Officer) and John Obirije (Chief Technology Officer).[5]
The company joined Y Combinator's Summer 2020 batch, becoming one of the few African-founded startups accepted into the accelerator [6]
Funding
March 2021 - Seed Round: Afriex raised US$1.2 million led by Y Combinator and other investors to expand its remittance and payments infrastructure.[6]
April 2022 - Series A: The company raised US$10 million, led by Dragonfly Capital with participation from EMURGO (Cardano) and other investors, valuing Afriex at roughly US$60 million.[1][7]
Operations
Afriex initially focused on remittance corridors linking the African diaspora with their home countries.[8][9] Afriex operates a mobile and web-based wallet that supports person-to-person and business payments. Functions include integration with local financial systems for real-time settlements [10].
Between 2023 and 2025, the company broadened its reach into Europe and Asia, launching new corridors in China, India, and Pakistan [11][12]
In June 2023, Afriex and Tech Herfrica supported Nigerian women in agriculture by providing free smartphones, POS devices, microfinance loans, and access to digital resources to enhance their businesses.[13][14]
As of 2025, Afriex reports operations in more than 40 regions worldwide. [15][16]
References
- ^ a b Szkutak, Rebecca. "Nigerian Fintech Startup Afriex Raises $10 Million For Its Blockchain Money Transfer Platform". Forbes. Retrieved 17 October 2025.
- ^ Macjohn, Sandra (26 December 2022). "Afriex Money Transfer: How to Sign Up and Send Money for Free Using Afriex". The Fintech Africa. Retrieved 17 October 2025.
- ^ "Discover the top and emerging startups in Africa". startuplist.africa. Retrieved 19 October 2025.
- ^ Onyeagoro, Jennifer (3 November 2025). "Afriex and Visa Bring Real-Time Cross-Border Payments to 160+ Markets". TechAfrica News. Retrieved 20 January 2026.
- ^ Post, Sponsored (23 March 2021). "Y Combinator-backed Afriex raises $1.2m seed round as it expands across Africa - Disrupt Africa". Disrupt Africa. Archived from the original on 18 August 2022. Retrieved 17 October 2025.
- ^ a b Kene-Okafor, Tage (23 March 2021). "Afriex raises $1.2M seed to scale its payments and remittances platform across Africa". TechCrunch. Retrieved 17 October 2025.
- ^ "Afriex raises $10m in Series A funding". 26 April 2022. Retrieved 17 October 2025.
- ^ "Afriex is democratising wealth creation by facilitating global money transfers". TechCabal. 29 June 2022. Retrieved 17 October 2025.
- ^ Nair, Shalini MP (3 November 2025). "Afriex, Visa partner to deliver real-time cross-border payments to over 160 markets". Electronic Payments International. Retrieved 20 January 2026.
- ^ "Afriex raisesUS$10m funding to boost blockchain-based money transfers". 26 April 2022. Retrieved 17 October 2025.
- ^ "Afriex Expands Its Money Transfer Network, Connecting Europe to Africa". TechCabal. 23 April 2024. Retrieved 17 October 2025.
- ^ "Money Transfer Startup Afriex Expands into China, India, and Pakistan". Fintech News Africa. 31 July 2025. Retrieved 17 October 2025.
- ^ Oboh (12 June 2023). "Tech Herfrica, Afriex tackle poverty with digital financial inclusion initiative". Vanguard News. Retrieved 28 October 2025.
- ^ "Afriex and Tech Herfrica Empower Nigerian Women Farmers and Traders for Economic Growth". www.afriex.com. Retrieved 28 October 2025.
- ^ "Afriex Expands Money Transfer Services to China, India, and Pakistan". Fintech NewsByte. 31 July 2025. Retrieved 17 October 2025.
- ^ Ischebeck, Jens (28 April 2021). "28 Money Transfer Services Checked For Africa: Extensive Guide". africa.com. Retrieved 17 October 2025.