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Sep 2024California DFPI issued a cease-and-desist order alleging Afriex conducted unauthorized money transmission in California without the required state license.
SourceCompany research
Public company, workplace, funding, and market signals
Overview
Afriex is a Delaware-registered fintech that focuses on instant cross-border money transfers and multi-currency payments for consumers and businesses. Public sources describe it as an app and API platform for remittances, global accounts, virtual cards, and business payouts, with an Africa-first corridor focus and expansion into Asia and other markets.
Primary product
Cross-border money transfer and remittance app (with global accounts and business API)
Founded
2019
Headquarters
Oakland, California, United States
Team size
80+ team members
Work style
Flexible
Industry
Financial Services
Sub-industry
Cross-border payments / remittances
Offices
Oakland, California, United States (HQ)
Richmond, Texas, United States
Wilmington, Delaware, United States (business address / support address)
Business model
consumer remittances
B2B cross-border payments API
multi-currency accounts
virtual cards
FX spread / transfer-fee revenue
Funding
Stage
Series A
Total raised
$11.3M
Latest round
Series A · Apr 2022
Latest amount
$10M
People & investors
Leadership
Co-Founder and CEO
Co-Founder and CTO
Chief Compliance Officer
Johnson Itawa
Head of Finance
Brand & Partnerships Lead
Ayoola Odekunle
Lead - Information Security
Investors
A$AP Capital
Andrea Vaccari
Brightstone VC
Dragonfly Capital
Exceptional Capital
Furqan Rydhan
Future Africa
Goldentree
Ivernet Holdings
Launch Africa
Mandela Schumacher-Hodge Dixon
Precursor Ventures
Processus Capital
Russell Smith
Sequoia Capital China
SoftBank Opportunity Fund
Stellar Foundation
Uncommon Ventures
Y Combinator
Work & culture
Mission-driven fintech culture centered on Speed, Quality, and Trust, with a flexible work style and a distributed team across multiple countries.
Work style
Flexible
Compensation
No public compensation bands found.
Benefits
unlimited paid time off
growth and mentorship programs
industry-standard benefits
flexible work style
work from home
work from the office
work from anywhere
Product & market
Pricing
Zero-to-low-fee corridor pricing with competitive FX spreads; some routes advertise a $1 flat fee, while receiving funds and many transfers are marketed as free or near-free.
Differentiators
- —instant or near-instant transfers on many corridors
- —Africa-first corridor coverage
- —USD/GBP/EUR global accounts
- —mobile-money plus bank plus SWIFT rails
- —business API for payouts and customer management
- —virtual cards
- —credit-builder partnership for U.S. users
Technology
Webflow
Freshchat
Freshdesk
JazzHR
Stripe
Paystack
Slack
Box
Swift
LinkedIn
X/Twitter
Facebook
Instagram
TikTok
Snapchat
Customers
immigrants and diaspora senders
freelancers
remote workers
individual consumers
businesses
digital agencies
traders
families supporting relatives abroad
Competitors
Wise
Remitly
Payoneer
Flutterwave
Paystack
LemFi
Chipper Cash
Verto
Zepz / WorldRemit
Scale & contact
Estimated revenue
about $2M (some public sources place it in the $1M-$10M range)
Signals & risks
Latest news
Afriex · Mar 2026
Afriex announced it secured a Canadian Payment Service Provider licence, strengthening its regulated payments footprint and emphasizing faster, more reliable international transfers.
Afriex · Feb 2026
Afriex launched a Credit Builder product with Upward, positioning transfers as a way for U.S. users to build credit history.
Afriex · Nov 2025
Afriex said it integrated Visa Direct to enable real-time cross-border payments to more than 160 markets through its mobile app.
TechCabal · Jul 2025
TechCabal reported Afriex expanded into China, India, and Pakistan and planned broader fundraising to support growth.
TechCabal · Aug 2024
Afriex launched Global Accounts, giving users USD, GBP, and EUR bank-account functionality for receiving, holding, and sending money across borders.
Jobs and careers at Afriex
0 jobs at Afriex
No open positions
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