California DFPI issued a cease-and-desist order alleging Afriex conducted unauthorized money transmission in California without the required state license.
SourcePublic company, workplace, funding, and market signals
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
0 jobs at Afriex
Check back later for new openings
Business model
Stage
Series A
Total raised
$11.3M
Latest round
Series A · Apr 2022
Latest amount
$10M
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
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
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
Technology
Customers
Competitors
Estimated revenue
about $2M (some public sources place it in the $1M-$10M range)
California DFPI issued a cease-and-desist order alleging Afriex conducted unauthorized money transmission in California without the required state license.
SourceAfriex · 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.