Fincra
Fincra is a payment infrastructure platform enabling businesses to accept, disburse, and manage cross-border payments across African markets and globally via a unified API spanning collections, payouts, virtual accounts, KYC verification, and FX conversion in 40+ currencies across 150+ countries.
- Company typePrivate
- Founded2022
- HeadquartersToronto, Canada
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Fincra does
Fincra is a payment infrastructure platform that enables businesses to accept, process, disburse, and manage cross-border payments across African markets and globally. Founded in 2022 and headquartered in Lagos, Nigeria, the company serves a multi-segment client base including e-commerce platforms, financial institutions, money transfer operators, FMCG distributors, logistics providers, travel and hospitality businesses, and global companies expanding into Africa. Its core problem is the fragmentation of African payment landscapes — multiple regulatory regimes, limited correspondent banking corridors, currency volatility, and the absence of a single integration layer for local payment methods. Fincra positions itself as a unified API connecting businesses to payment rails across 40+ countries with local payment method coverage and 150+ countries for payouts, in 40+ currencies.
The platform's product surface spans Pay-In (collections via cards, bank transfers, mobile money, virtual accounts, payment links, and wallets), Pay-Out (local and international transfers across 150+ countries), Multicurrency Accounts (USD and EUR virtual accounts), Checkout (embeddable payment page), Payment Links (no-code), Virtual Accounts (NGN, GHS, KES, TZS), Identity Verification (BVN, Account, BIN resolution), Conversion API (200+ currencies), and Utilities API (airtime, data, electricity, cable). The underlying technology is a cloud-native REST API with SDKs across Node.js, React Native, Flutter, Java, PHP, Python, Ruby, C#, and Objective-C, backed by 100+ integrations, ISO 27001 and ISO 22301 certifications, PCI DSS Level 1 compliance, and a reported 99.95% uptime. Processing millions of API requests monthly, the platform operates through a self-serve developer portal, enterprise direct sales, and a partner program.
Fincra generates revenue primarily through transaction fees (referenced at approximately 1% with caps for certain transaction types), usage-based API fees for high-volume enterprise clients, and FX conversion margins on multicurrency transactions. Distribution combines product-led growth (self-serve signup, FincraHub developer community on Slack, technical documentation), enterprise field sales (dedicated account managers, custom volume pricing), and channel partnerships (fintechs and ISVs embedding Fincra's infrastructure). The company has secured regulatory licenses in Nigeria (CBN PSSP, MFB), Ghana (Bank of Ghana EPSP), Canada (FINTRAC PSP, MSB), and the UK/EU (FCA EMI), and operates physical offices in 9 countries across Africa (Lagos, Accra, Kampala, Nairobi, Johannesburg, Douala, Dakar) and internationally (Toronto, London).
Fincra firmographics
Firmographics- Name
- Fincra
- Legal name
- Fincra Technologies Limited
- Website
- https://fincra.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Fincra is a payment infrastructure platform enabling businesses to accept, disburse, and manage cross-border payments across African markets and globally via a unified API spanning collections, payouts, virtual accounts, KYC verification, and FX conversion in 40+ currencies across 150+ countries.
- Ownership category
- akta.pro rank
Fincra industry classification
Industry- Product category
- Cross-Border Payment Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN)
- akta.pro secondary industries
- Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ)
Keywords
Where Fincra is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices9 records
Markets served
Fincra business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction Fees: Percentage-based fees charged on each payment transaction processed through the platform. Volume-based pricing with potential caps or negotiated rates for enterprise clients.
- API Usage Fees: Usage-based charges for API calls and integration usage, particularly for high-volume enterprise implementations requiring dedicated infrastructure support.
- FX Conversion Revenue: Revenue generated from currency conversion margins when businesses exchange between supported currencies through the platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Transaction-based pricing with percentage fee |
| Usage-based | Monthly | Enterprise volume-based pricing |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
Fincra product offering
Product offeringCore offering
Fincra provides a payment infrastructure platform that enables businesses to accept payments (Pay-In), make payouts (Pay-Out), and manage multi-currency accounts across African markets and globally through a single API. The platform supports payments via cards, bank transfers, mobile money, virtual accounts, and payment links in 40+ currencies across 150+ countries, with licensed regulatory coverage in Nigeria, Ghana, Canada, the UK, and the EU.
Product overview
Fincra is a payment infrastructure platform providing a unified portfolio of payment collection (Pay-In), disbursement (Pay-Out), and Banking-as-a-Service solutions. The core Pay-In product enables businesses to accept payments via cards, bank transfers, Mobile Money, Virtual Accounts, and Payment Links across 40+ currencies in 150+ countries. Pay-Out supports local and international transfers to 150+ countries in 40+ currencies. The Multicurrency Account module allows issuing USD and EUR virtual accounts to customers. Supporting modules include Checkout (embeddable payment page), Payment Links (no-code payments), Virtual Accounts (NGN/GHS/KES/TZS), Identity Verification (KYC APIs including BVN resolution), and Conversion API (200+ currency exchange). The platform operates via a single API integration with developer-friendly SDKs in Node.js, React Native, Flutter, Java, PHP, Python, Ruby, C#, and Objective-C.
Differentiator
Problem solved
Functional benefit
Products and services
- Pay-In Payment collection gateway enabling businesses to accept payments via Virtual Accounts, Payment Links, Cards, Mobile Money, Bank Transfers, and Wallets. Supports collections in up to 40 currencies across 150+ countries.
- Pay-Out Local and international transfer solution enabling businesses to make payouts to partners, suppliers, and customers across 150+ countries in 40+ currencies via bank accounts, mobile money wallets, and cash pick-ups.
- Checkout Embeddable payment page that dynamically adapts to user interface, device, and location. Supports card payments, mobile money, bank transfers, and PayAttitude with optimized checkout experience.
- Payment Links No-code payment solution enabling businesses to create customizable payment links shared with customers for accepting online payments without a website.
- Multicurrency Account Virtual account solution allowing businesses to issue USD and EUR accounts to customers for receiving foreign currency payments via ACH or SWIFT, eliminating costly conversion fees.
- USD Account Virtual USD account solution allowing businesses to issue USD bank accounts to customers via API for receiving US dollar payments. Supports ACH transactions with $10,000 monthly limit per account.
- EUR Account Virtual EUR account solution allowing businesses to issue Euro bank accounts to customers via API for receiving EUR payments, particularly serving Egypt, Tunisia, Morocco, Algeria, Angola, and Francophone Africa.
- Virtual Accounts NUBAN-compliant virtual account issuance enabling businesses to create virtual accounts in NGN, GHS, KES, TZS for accepting bank transfers from customers.
- Conversion API Currency conversion API providing real-time exchange rates for 200+ currencies, enabling businesses to perform cross-rate calculations, access historical data, and execute currency conversions.
- Identity Verification KYC solution suite including BVN Resolution API (Nigeria Bank Verification Number validation), Account Verification API (beneficiary account authenticity), and Resolve BIN API (card Bank Identification Number validation).
- Utilities API API enabling bill payments including airtime, data, electricity/energy payments, and cable TV subscriptions for merchants integrating utility payment services.
Quantifiable outcome
- 99.95% uptime SLA
- +1 more outcomes
Companies that use Fincra
Customer profileSegments7 records
Ideal customer profiles5 records
Fincra technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature8 records
Fincra partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ReapcoreMemorandum of Understanding between Fincra and Reap for cards and cross-border payments collaboration. The partnership aims to enhance payment capabilities and expand cross-border payment services, combining Reap's card payment infrastructure with Fincra's African payment network.
Scale indicators7 records
Recent moves6 records
Expansion highlights7 records
Fincra competitors and assessment
Company assessmentDirect peers
- Flutterwave: Pan-African payment gateway offering Pay-In, Pay-Out, and virtual accounts across 30+ African countries. Directly competes with Fincra's core product set, especially in Nigeria, Kenya, Ghana, and South Africa, and serves overlapping enterprise and SMB segments.
- Paystack: Stripe-owned African payment gateway providing Pay-In, Pay-Out, and checkout across Nigeria, Ghana, South Africa, and Kenya. Overlaps directly with Fincra on merchant collections, virtual accounts, and developer-first API infrastructure.
- Chipper Cash: Africa-focused cross-border payments and remittance platform spanning 20+ African countries plus the US and UK. Directly comparable to Fincra's cross-border Pay-Out and money transfer positioning for diaspora and SMB flows.
- Interswitch: Nigeria-headquartered African digital payments and commerce company operating Verve, Quickteller, and Interswitch Pay. Closely comparable on payment processing infrastructure, virtual accounts, and enterprise BaaS in West Africa.
- Cellulant: Pan-African payment platform providing payment collection, disbursement, and digital banking across 35+ countries. Overlaps with Fincra's Pay-In, Pay-Out, and developer API positioning for banks, telcos, and global merchants.
- Onafriq (formerly MFS Africa): Africa's largest mobile money cross-border hub connecting 500+ mobile money and bank endpoints across the continent. Highly comparable to Fincra's cross-border Pay-Out engine and FX conversion capabilities for remittance and B2B use cases.
Emerging players
- LemFi: Cross-border payments fintech focused on African diaspora corridors between Canada/UK and Africa. Overlaps with Fincra's cross-border Pay-Out and FX offering, particularly on the Canada-Africa and UK-Africa remittance lanes where Fincra also has licensing.
- Nala: African remittance platform serving the UK-Africa and EU-Africa corridors via mobile money and bank payouts. Comparable to Fincra's Pay-Out and cross-border positioning for diaspora money transfer use cases.
Broad incumbents
- Wise (TransferWise): Global cross-border payments platform with multi-currency accounts and FX services. Comparable to Fincra on multicurrency accounts, FX conversion, and cross-border payout infrastructure, though Wise serves a global SMB/remittance base rather than an Africa-first API stack.
- Payoneer: Global cross-border payments platform offering multi-currency receiving accounts, mass payouts, and FX for SMBs and marketplaces. Comparable to Fincra's USD/EUR virtual accounts and Pay-Out engine for global businesses paying into African markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Fincra social profiles
Digital presenceFincra compliance and trust
Trust signalCompliance8 records
Fincra financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fincra leadership team
Management profileNumber of profiles
Profiles1 record
Fincra funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fincra M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fincra
What does Fincra do?
Fincra provides a payment infrastructure platform that enables businesses to accept payments (Pay-In), make payouts (Pay-Out), and manage multi-currency accounts across African markets and globally through a single API. The platform supports payments via cards, bank transfers, mobile money, virtual accounts, and payment links in 40+ currencies across 150+ countries, with licensed regulatory coverage in Nigeria, Ghana, Canada, the UK, and the EU.
Is Fincra a public or private company?
Fincra is a private company. It is classified as venture growth investor backed and is currently operating.
When was Fincra founded?
Fincra was founded in 2022. It employs 51 to 100 people.
Where is Fincra based?
Fincra is headquartered in Toronto, Canada, in the North America region.
How does Fincra make money?
Three revenue lines are on record. Transaction Fees are the primary driver. The others are API Usage Fees and FX Conversion Revenue.
Who are Fincra's main competitors?
Direct peers on record are Flutterwave, Paystack, Chipper Cash, Interswitch, Cellulant and Onafriq (formerly MFS Africa). Emerging players are LemFi and Nala. Broad incumbents are Wise (TransferWise) and Payoneer.
Does Fincra have an API?
Yes. Fincra offers a public REST API enabling developers to build payment solutions. The API supports Pay-In (collections via Checkout, Virtual Accounts, Payment Links, Cards, Mobile Money, Bank Transfers), Pay-Out (local and international transfers across 150+ countries), Multicurrency Accounts (USD/EUR account issuance), Identity Verification (BVN resolution, Account Verification, BIN resolution), and Conversions (currency exchange for 200+ currencies). Available in sandbox (test) and live (production) environments. Authentication via API keys with IP whitelisting support. Webhooks available for payment events, virtual account updates, and conversions. Developer documentation is at docs.fincra.com/docs.
What industry is Fincra in?
Fincra's product category is Cross-Border Payment Infrastructure. Its primary akta.pro industry code is FSAGABAN, Payouts, Disbursements & Mass Payments Infrastructure, with a secondary code of FSAGABAK, Cross-Border FX, Multi-Currency & Treasury for Payments. Its NAICS code is 52232 and its SIC code is 6199.