Latin American fintech company dLocal set to purchase Africa-centered Aza Finance for a sum of $150 million
dLocal Acquires Aza Finance to Expand African Presence and Enhance Cross-Border Payments
dLocal, a Latin American payments giant, has announced its acquisition of Aza Finance, a cross-border payments platform focused on Africa, for an estimated $150 million. This strategic move marks dLocal's first major acquisition outside Latin America and significantly expands its footprint in Africa, one of the fastest-growing markets for digital payments and remittances.
The acquisition will strengthen dLocal's presence in African markets, particularly Kenya and Uganda, through Aza Finance, a Nairobi-based fintech specializing in B2B cross-border payments. By integrating Aza Finance’s expertise in African payment infrastructure, dLocal aims to enhance its product offering, facilitating smoother and more efficient transactions for global merchants targeting African consumers.
Aza brings a strong presence across African markets, offering over-the-counter FX and stablecoin capabilities. This acquisition comes at a time when Africa's digital economy is growing rapidly, and cross-border payment solutions are increasingly crucial for trade, remittances, and e-commerce growth. In Nigeria, for example, 77% of crypto users have converted local currency to stablecoins.
The acquisition also leverages Aza Finance’s established regulatory approvals and local market knowledge, reducing the friction and risks associated with entering new jurisdictions. dLocal plans to expand stablecoin and crypto-related services, particularly in high-adoption markets like Nigeria.
The deal is pending regulatory approval. Once approved, dLocal will integrate Aza's team and technology, tapping into their 11 years of regional experience. The acquisition comes less than five months after the companies began a partnership.
dLocal has been named one of the Americas' fastest-growing companies by the Financial Times. The company has secured a UK payment institution license and has partnered with notable names such as PayPal, Temu, and Airtel. Aza founder Elizabeth Rossiello said the deal merges "Africa’s largest FX trading desk" with a "massive global platform."
Carlos Menendez, dLocal's COO, said, "We are well-positioned to offer innovative, efficient, and localised payment solutions." This acquisition underscores dLocal’s strategic intent to deepen its engagement in Africa, complementing its existing operations worldwide and capturing value in one of the fastest-growing fintech regions.
- The acquisition of Aza Finance by dLocal, a Latin American payments giant, will enable them to strengthen their presence in African markets, particularly in Kenya and Uganda, by integrating Aza Finance's expertise in African payment infrastructure, thus enhancing their product offering for global merchants targeting African consumers.
- By leveraging Aza Finance’s established regulatory approvals and local market knowledge, dLocal aims to reduce the friction and risks associated with entering new jurisdictions, especially in high-adoption markets like Nigeria, as they expand stablecoin and crypto-related services.
