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]
Afriex was founded in 2019 by Tope Alabi (Chief Executive Officer) and John Obirije (Chief Technology Officer).[4]
The company joined Y Combinator's Summer 2020 batch, becoming one of the few African-founded startups accepted into the accelerator [5]
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.[5]
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][6]
Operations and Expansion
Afriex initially focused on remittance corridors linking the African diaspora with their home countries.[7]
Between 2023 and 2025, the company broadened its reach into Europe and Asia, launching new corridors in China, India, and Pakistan [8][9]
As of 2025[update], Afriex reports operations in more than 40 regions worldwide. [10][11]
Technology and Services
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 [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]
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