Afriex
| Company type | Private |
|---|---|
| Industry | Fintech, Financial services |
| Founded | 2019 |
| Founder | Tope Alabi, John Obirije |
| Headquarters | Wilmington, Delaware , United States |
Key people | Tope Alabi (CEO), John Obirije (CTO) |
| Products | Cross-border payments, Money transfer solutions, Mobile and web wallets, Virtual cards |
Afriex is a fintech enterprise registered in the United States that specializes in cross-border payments and money transfer solutions. Established in 2019 and headquartered in Wilmington, Delaware, the company integrates regional payment infrastructures into a cohesive international network, enabling seamless money transfers across various continents.
History
Founded in 2019 by CEO Tope Alabi and CTO John Obirije, Afriex was created to streamline and reduce the expenses associated with sending money internationally. The firm was selected for the Summer 2020 cohort of Y Combinator, distinguishing itself as one of the few startups originating from Africa to be admitted into this prestigious accelerator program.
Funding
In March 2021, Afriex secured $1.2 million in seed funding, led by Y Combinator, aimed at enhancing its remittance and payment platforms.
By April 2022, the company completed a Series A financing round totaling $10 million, spearheaded by Dragonfly Capital and including investments from EMURGO (Cardano) among others, which valued Afriex at around $60 million.
Operations and Expansion
Afriex initially concentrated on remittance corridors linking the African diaspora to their countries of origin. Between 2023 and 2025, it broadened its reach into European and Asian markets, establishing corridors in nations such as China, India, and Pakistan.
As of 2025, Afriex serves over 40 global regions, facilitating transfers via partnerships with local banks and mobile money providers.
Technology and Services
The company provides mobile and web wallet solutions that support both individual-to-individual and business transactions. Key features include:
- Immediate international transfers settled in recipient local currencies
- Multi-currency wallets alongside virtual cards designed for global usage
- Connectivity with local financial networks enabling real-time transaction settlements
Afriex complies with PCI DSS standards and achieved ISO 27001 certification in 2024, affirming adherence to international information security protocols.
In June 2023, Afriex collaborated with Tech Herfrica to empower Nigerian women engaged in agriculture by supplying smartphones, POS terminals, microfinance lending options, and digital tools aimed at enhancing their enterprises.
Recognition
Afriex has garnered attention from leading business and technology publications including Forbes, TechCrunch, TechCabal, Premium Times Nigeria, and FinTech News Africa. In 2022, it was ranked among Nigeria’s top ten tech firms based on capital raised, as reported by Nairametrics.