Rafiki

What Rafiki does

Rafiki is a B2B API-driven cross-border payments platform spun off from Tanzanian fintech NALA in March 2024 to solve payment reliability issues in emerging markets. The platform provides a single RESTful API for global businesses to send payouts and accept collections across 30+ countries spanning Africa, Asia, Europe, the United States, and Mexico, with direct integrations into 300+ banks and 40+ mobile money services including M-Pesa, MTN, and Orange Money. Core products include the Rafiki API, Global Payout Solutions, Global Virtual Account Infrastructure (multi-currency virtual IBANs), Treasury Management, and an Early Access Stablecoin Infrastructure layer (USDC/USDT) launched in partnership with Noah in January 2026.

The underlying technology stack uses a RESTful API with SDKs in JavaScript, Python, Ruby, PHP, and Java, webhooks for real-time payment status, and routing through local payment networks, banks, mobile money operators, and stablecoin rails. Rafiki claims 99.3% of transactions delivered within one hour, citing direct integrations rather than aggregator dependencies, proprietary error mapping, and reconciliation systems built from NALA's prior operational experience. The platform holds Payment Service Provider licenses in Tanzania (March 2023) and Rwanda (November 2023), with Kenya market entry achieved via Equity Bank and Pesalink partnerships in September 2025.

Rafiki's revenue model is transaction-based: API-driven fees on payouts, collections, FX conversion, and virtual accounts, with quote-based enterprise pricing tied to monthly USD processing volume. Its go-to-market combines a developer-led self-serve API motion with enterprise field sales (Talk to Sales / Book a Demo CTAs). Target customers include global businesses with emerging market operations, remittance and money transfer companies, payroll and HR platforms, and e-commerce/marketplace businesses. The captive NALA consumer app serves as an anchor customer following the spin-off. Rafiki employs 51-100 people, is headquartered in San Francisco, and is led by CEO and Founder Benjamin Fernandes.

Name

Rafiki

Legal name

Rafiki

Website

https://rafiki.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Rafiki is a B2B API-driven cross-border payments platform spun off from NALA in 2024, serving global businesses needing reliable payouts, collections, FX, and virtual accounts across 30+ emerging and established markets via a single RESTful API.

Ownership category

akta.pro rank

Product category

Cross-Border Payments Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Other Nondepository Credit Intermediation (52229)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace) (FSAGAKAC)

akta.pro secondary industries

Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), SME & Business Cross-Border Payments (B2B) (FSAMAIAB), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)

Keywords

• Cross-border payments API
• Emerging market payouts
• Virtual account infrastructure
• Mobile money integration
• Stablecoin payment rails

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. API Transaction Fees: Transaction-based fees charged for processing payouts and collections through the API across supported countries and payment methods (bank accounts, mobile money, digital wallets).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Rafiki provides a B2B API-driven payments platform enabling businesses to send and receive money globally across 30+ countries through a single RESTful API integration. The platform handles cross-border payouts, collections, real-time FX conversion, multi-currency virtual accounts, treasury management, and stablecoin settlement (USDC/USDT), connecting directly to 300+ banks, 40+ mobile money operators, and digital wallets with primary focus on emerging markets in Africa and Asia.

Product overview

Rafiki is a B2B payments platform (Rafiki API) designed for emerging markets, offering three core products: Global Payout Solutions for sending money to businesses and individuals worldwide, Global Virtual Account Infrastructure for multi-currency collections via virtual IBANs, and Stablecoin Infrastructure for USDC/USDT settlements. The platform provides unified APIs handling FX conversion, compliance, reconciliation, and routing through local payment networks across 30+ countries in Africa, Asia, Europe, and the US. Additional capabilities include treasury management, real-time transaction tracking, and bulk payment processing.

Differentiator

Problem solved

Functional benefit

Brands

• Rafiki Payout: Global payout solutions enabling businesses to send money worldwide with support for bank accounts, mobile wallets, and digital wallets across emerging markets.
• Virtual Account

Products and services

• Rafiki API B2B payments platform providing a single RESTful API for global businesses to send and receive money across borders, handling FX, compliance, reconciliation, treasury management, and routing through local payment networks and stablecoin rails across 30+ countries. SDKs available for JavaScript, Python, Ruby, PHP, and Java.
• Global Payout Solutions

Quantifiable outcome

• 99.3% of transactions delivered within 1 hour; most arrive in seconds
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• Equity BankcoreTechnology or Integration · 4 September 2025NALA partnered with Equity Bank for Kenya market entry, enabling NALA to route diaspora transfers through the bank's infrastructure and settle payments. This partnership allows NALA to avoid lengthy CBK licensing procedures while accessing Equity's extensive banking network in Kenya. The partnership is part of Equity's Africa Recovery and Resilience Plan.
• Pesalink (IPSL - Kenya Bankers Association)coreTechnology or Integration · 4 September 2025NALA partnered with Pesalink (operated by Integrated Payments Service Limited, owned by Kenya Bankers Association) to route transfers through Pesalink's instant payment network. This partnership provides access to Kenya's real-time payment infrastructure and enables faster, cheaper remittances for households and businesses.
• NoahcoreTechnology or Integration · 1 January 2025Strategic partnership with Noah, a global payments infrastructure provider, to deliver stablecoin on- and off-ramp capabilities for emerging markets. The partnership combines Noah's global USD collection infrastructure with Rafiki's stablecoin settlement network, enabling 24/7 settlement, lower FX friction, and fewer barriers for cross-border payments. This is a key initiative in Rafiki's mission to make stablecoin settlement work in emerging markets for payroll, payouts, treasury, and global collections.
• National Bank of RwandacoreOthers · 17 November 2023NALA (Rafiki's parent) received Payment Service Provider license from National Bank of Rwanda, enabling direct integration with banks and mobile money operators in Rwanda. The license enables payment gateway services, direct telco/bank integrations, and payment processing on behalf of third parties.
• M-Pesa (Safaricom)coreTechnology or Integration · 3 February 2023NALA (Rafiki's parent company) has a direct integration with M-Pesa, the largest mobile money operator in Tanzania. This partnership enables reliable payouts and collections through M-Pesa's network, providing significant competitive advantage as one of the few fintech companies with direct M-Pesa integration in East Africa.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• dLocal: dLocal provides cross-border payments infrastructure focused on emerging markets, enabling merchants and platforms to pay out and collect in local payment methods. Comparable emerging-market specialization and B2B API model to Rafiki.
• Rapyd: Rapyd provides a global fintech-as-a-service and payments API spanning payouts, collections, wallets, and issuing across 100+ countries. Comparable to Rafiki in API-first cross-border positioning and emerging-market coverage.
• Nium: Nium is a global B2B payments API offering cross-border payouts, collections, virtual accounts, and FX across 100+ countries. Closest comparable to Rafiki on product scope and developer-first GTM, with a broader geographic footprint but heavier mature-market focus.
• Thunes: Thunes operates a global payments network connecting mobile wallets, banks, and cash agents with strong Africa and Asia coverage. Direct peer to Rafiki on emerging-market cross-border payout rails and B2B2C disbursements.
• TerraPay: TerraPay runs a global payments network connecting bank accounts, mobile wallets, and cash pickup locations across emerging markets. Comparable on cross-border B2B payouts and emerging-market rail aggregation.
• Flutterwave: Flutterwave is an Africa-focused payments infrastructure provider offering payout, collection, and FX APIs across African markets. Overlaps directly with Rafiki's core Africa payout and collection use cases.
• Onafriq (MFS Africa): Onafriq operates a mobile-money-led cross-border payments network across Africa and Asia. Direct peer on mobile money and bank-rail payout infrastructure serving B2B disbursements in emerging markets.

Broad incumbents

• Payoneer: Payoneer offers cross-border B2B payouts, multi-currency accounts, and FX for marketplaces and SMBs. Broader incumbent serving similar mass-payout and emerging-market cross-border use cases relevant to Rafiki's payroll and marketplace segments.
• Wise Platform: Wise Platform offers cross-border payout and multi-currency infrastructure APIs to banks and large enterprises. Broader incumbent with stronger developed-market rails but overlapping B2B payout and FX capabilities relevant to Rafiki's enterprise customers.

Emerging players

• Circle (Cross-Border / USDC rails): Circle provides USDC-based cross-border settlement infrastructure and treasury APIs. Comparable to Rafiki's stablecoin rail strategy for enterprise B2B cross-border payouts, though from a USDC-issuer angle rather than emerging-market-native.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/rafiki_api
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/rafiki-api
• Instagraminstagram.com/rafiki_api

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Rafiki