AZA Finance

What AZA Finance does

AZA Finance is a B2B cross-border payments and foreign exchange infrastructure provider focused on African frontier markets. Founded in Nairobi in 2013 (originally as BitPesa) by CEO Elizabeth Rossiello, the company operates a proprietary Bulk Payment API and a B2B Web Payment Platform supporting over 30 currencies across 115+ markets, with 200+ tradable currency pairs. Its product suite spans Payments, Treasury, Foreign Exchange, and Collections, with the BFX web interface and the acquired TransferZero brand extending capabilities into European corridors. The company has regulatory licenses from Bank of Uganda, UK FCA, Central Bank of Nigeria, South African Reserve Bank, and Bank of Spain.

The business generates revenue primarily through transaction fees on cross-border payments, FX spreads on currency conversions, fees for treasury and liquidity services, and volume-based pricing tiers for enterprise clients. Go-to-market combines enterprise field sales for mid-market and enterprise buyers with API-first distribution for fintechs, banks, MTOs, NGOs, and multinational corporations, supported by offices in Nairobi, Lagos, London, and Luxembourg. Customer segments span HR/payroll providers, financial services businesses, e-commerce platforms, retail/FMCG, importers, manufacturers, NGOs, and remittance providers.

Since inception, AZA Finance has cumulatively transferred over $9 billion for 26,000+ customers, with 99.5% platform uptime and certifications including PCI-DSS, ISO 27001:2022, and SOC II. The company has executed strategic acquisitions of Exchange4Free (South Africa, 2021) and TransferZero (Spain, 2023), and in June 2025 announced an agreement to be acquired by cross-border payments platform dLocal for approximately $150 million, pending regulatory approvals.

Name

AZA Finance

Legal name

NeWurth S.A

Website

https://azafinance.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

AZA Finance is a Nairobi-based B2B fintech operating a cross-border payments and FX platform spanning 30+ currencies and 115+ markets, serving multinationals, fintechs, NGOs, and remittance providers across Africa and globally.

Ownership category

akta.pro rank

Product category

Cross-Border Payments & FX Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

SME & Business Cross-Border Payments (B2B) (FSAMAIAB)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), A2A Cross-Border & FX via Open Banking (FSAMAFAK)

Keywords

• Cross-border payments
• Foreign exchange services
• B2B fintech platforms
• Payment API infrastructure
• Treasury management solutions

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. API Transaction Fees: Revenue generated from transaction fees charged on cross-border payments and currency exchanges processed through the API platform. Volume-based pricing for high-volume business customers.
2. Foreign Exchange Margins: Revenue from FX spreads on currency exchange transactions across 30+ supported currencies for B2B customers.
3. Treasury Services: Fees for treasury management services including liquidity access and currency risk management for enterprise clients.
4. Volume-Based Pricing: Pricing model offering competitive rates with volume-based pricing tiers for larger transaction volumes.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

AZA Finance provides a B2B cross-border payments and FX infrastructure for businesses operating in and across Africa. Through a proprietary payment API and integrated web platform, the company enables multinational corporations, fintechs, banks, remittance providers, NGOs, and HR/payroll companies to send and receive payments, exchange currencies, manage treasury, and settle transactions across 115+ markets and 30+ currencies, with last-mile reach to bank accounts and mobile money wallets in African frontier markets.

Product overview

AZA Finance operates as a B2B fintech platform offering a unified cross-border payments and FX infrastructure for Africa. The core product portfolio includes the Bulk Payment API (for programmatic mass payouts across 115+ markets), the B2B Web Payment Platform (for manual/web-based transactions with 200+ currency pairs), and BFX (an improved cross-border payments interface). Supporting modules include Treasury Services (liquidity management), Payments, Foreign Exchange, and Collections. TransferZero, an acquired Spanish fintech brand, extends capabilities into European markets.

Differentiator

Problem solved

Functional benefit

Brands

• BFX: B2B web payment platform interface for cross-border payments
• TransferZero

Products and services

• Bulk Payment API Proprietary payment API enabling businesses to make mass payouts across Africa. With a single integration, businesses can connect to numerous payment providers and banks, supporting payments to banks and mobile money wallets in multiple African currencies including XAF, XOF, BWP, EGP, KES, MAD, NGN, UGX, ZAR, and ZMW across 115+ markets.
• B2B Web Payment Platform One-stop web platform for B2B cross-border payments offering deep liquidity for large-volume transactions, faster settlement speeds, competitive FX rates, access to over 200 currency pairs, and treasury management services.
• Treasury Services Liquidity management solutions providing access to liquidity when and where businesses need it, with deep liquidity across 30+ currencies via robust API and intuitive web platform for B2B clients.
• Payments International and intra-Africa payment solutions enabling secure and seamless cross-border transactions for businesses.
• Foreign Exchange Streamlined and well-priced foreign exchange services for businesses transacting in G20 and major African currencies with transparent pricing and deep liquidity.
• Collections Payment collection services enabling businesses to receive payments from customers with ease.
• TransferZero Acquired Spanish fintech brand providing money transfer and payment services to enable AZA Finance's European market presence and connects Africa-Latin America corridors.

Quantifiable outcome

• Over $9 billion in funds transferred since founding in 2013
• +3 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability1 record

Feature6 records

Partnerships

Six partnerships are on record, tiered flagship and core.

• dLocalflagshipStrategic or Co-development Partner · 4 June 2025Announced acquisition by dLocal for approximately $150 million in June 2025, pending regulatory approvals. The acquisition aims to strengthen dLocal's presence in Africa and expand cross-border payment capabilities. This represents a major strategic consolidation in African fintech.
• dLocalcoreStrategic or Co-development Partner · 14 February 2025Strategic partnership announced February 2025 to expand footprint in Africa. dLocal is a leading cross-border payment platform. The partnership enables AZA Finance to leverage dLocal's infrastructure while contributing its African market expertise and regulatory relationships.
• Exchange4FreecoreTechnology or Integration · 29 April 2021AZA Finance agreed to acquire Exchange4Free, a South African non-bank currency broker. The acquisition aimed to make AZA Finance the largest fintech provider of treasury and FX services in Africa and expand reach to 115 countries.
• TransferZerocoreTechnology or IntegrationAZA Finance acquired Spanish fintech TransferZero as part of European expansion strategy. TransferZero was a Money Transfer Operator licensed in Spain, enabling AZA to establish presence in European markets and connect Africa-Latin America corridors.
• Airtel (Uganda)coreTechnology or IntegrationPartnership with Airtel Uganda to enable mobile wallet deposits and payouts. Airtel controls approximately 35% of Uganda's mobile money market share, providing significant last-mile payment coverage.
• MTN (Uganda)coreTechnology or IntegrationPartnership with MTN Uganda to enable seamless mobile money transfers. Combined with Airtel partnership, this provides comprehensive mobile money coverage in Uganda.

Scale indicators8 records

Recent moves10 records

Expansion highlights4 records

Direct peers

• Onafriq (formerly MFS Africa): Africa's largest mobile money interoperability network connecting 500+ mobile wallets across 40+ countries. Directly comparable to AZA Finance as both serve as B2B payment orchestrators for cross-border Africa corridors, leveraging mobile money and bank integrations.
• Flutterwave: African B2B payments platform serving enterprises with cross-border payment, FX, and collections capabilities. Highly comparable to AZA in target customer base (multinationals, fintechs, SMEs) and core cross-border payment functionality across African markets.
• Chipper Cash: Africa-focused digital payments company offering cross-border money transfers and FX across 21+ African countries. Direct competitor in African remittance corridors serving similar diaspora and B2B remittance use cases as AZA Finance.
• Wave: Mobile money operator providing cross-border payments across Senegal, Ivory Coast, Mali, Burkina Faso, Gambia, and Uganda. Comparable to AZA in its African frontier market focus and mobile money-driven distribution model for cross-border transfers.

Broad incumbents

• Remitly: Public cross-border remittance company with significant Africa corridor volume. Comparable to AZA in B2B and consumer remittance corridors to Africa but operates a broader global remittance platform rather than specializing in B2B African cross-border.
• WorldRemit: Global digital remittance company with strong African recipient footprint via mobile money and bank deposit payouts. Comparable in Africa corridor coverage and mobile money last-mile partnerships, though broader geographic and consumer focus.
• Wise (TransferWise): Public cross-border payments company offering multi-currency accounts and FX services. Comparable to AZA in API-first B2B payments infrastructure and transparent FX pricing, but predominantly focused on developed-market corridors rather than African frontier markets.
• Payoneer: Public B2B cross-border payments platform serving freelancers, SMBs, and marketplaces. Comparable to AZA in serving B2B customer segments with cross-border payment needs, particularly emerging market businesses, though broader global SMB focus.

Emerging players

• LemFi: Canada-based fintech offering cross-border payments from North America/Europe to Africa and Asia. Comparable to AZA in African corridor focus and serving diaspora-driven remittance, but newer entrant with narrower corridor coverage and B2C tilt.
• Verto: Cross-border B2B payments platform for emerging markets with Africa corridor focus. Comparable to AZA in serving SMEs and enterprises with cross-border payments and FX in African and other emerging market corridors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/aza_finance
• Facebookfacebook.com/azafinance
• LinkedInlinkedin.com/company/azafinance

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds11 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AZA Finance