Afriex
| Company type | Privately held company |
|---|---|
| Industry | Financial services |
| Founded | 2009 |
| Founders | Tope Alabi (CEO), and John Obirije (CTO) |
| Headquarters | , |
Area served | Africa, Asia |
| Products | Cross-border payment and money transfer services |
| Website | www |
Afriex is a United States registered financial technology company that provides cross-border payment and money transfer services. Founded in 2019 the company provided international money transfer services to Africa for the African diaspora. It went on to expand its services to other countries including Pakistan and China.[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]
Founding rounds included 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] and 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. Lagos, Nigeria. 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.