Global cross-border payments provider dLocal has announced plans to acquire AZA Finance, a leading African fintech startup, in a strategic move to deepen its footprint across the continent. The acquisition, currently pending regulatory approval, signals dLocal’s intent to scale its presence in Africa’s rapidly growing digital payments landscape.
While the financial details of the deal remain undisclosed, Bloomberg reports that the transaction is valued at approximately $150 million, marking dLocal’s largest acquisition to date and its first on the African continent.
“Our acquisition of AZA Finance will increase access for our global merchants to Africa’s dynamic, growing markets, while further strengthening our commitment to the region,” said Carlos Menendez, Chief Operating Officer of dLocal. “By combining dLocal and AZA Finance, we are well-positioned to offer innovative, efficient and localised payment solutions to help businesses and individuals prosper in this rapidly evolving region.”
Founded in Montevideo, Uruguay in 2016, dLocal has quickly emerged as a major player in global payments, enabling international companies to transact seamlessly in emerging markets. In 2024, the company processed over $25.6 billion in payments and currently operates in more than 40 countries, including 12 across Africa. dLocal’s African operations have included partnerships with payment platforms like iTransfer and Airtel Money but this acquisition marks a significant expansion of its on-the-ground capabilities.
AZA Finance, established in 2013, offers payments, foreign exchange and remittance services tailored for African markets. Headquartered in Nairobi, Kenya, the startup claims to have processed over 15 million transactions and served more than 1.5 million users. AZA is backed by global investors including Greycroft, Plug and Play and Draper Associates, and raised over $15 million, with its last major funding round in 2021 led by the Development Bank of Southern Africa.
By acquiring AZA Finance, dLocal gains access to a strong regional infrastructure, deep regulatory knowledge and established relationships with local financial institutions. This will significantly bolster its competitive edge in Africa, where global giants like Stripe, Visa and Flutterwave are increasingly active.
The move comes at a time of intense interest in Africa’s digital economy, which is expected to see exponential growth in e-commerce and fintech adoption. For dLocal, the acquisition positions the company to offer more localized, compliant and efficient cross-border payment solutions, while expanding its global merchant base in one of the world’s most promising fintech frontiers.
