Latin-American fintech company dLocal set to purchase Africa-centric Aza Finance for an estimated $150 million
dLocal, a leading payments solutions provider, has announced its acquisition of AZA Finance, a cross-border payments platform specialising in Africa, for an estimated $150 million. This acquisition marks dLocal's first major acquisition outside Latin America and signifies a significant step in its strategic expansion into the rapidly growing African digital payments market.
Carlos Menendez, dLocal's COO, expressed his enthusiasm, stating, "We are well-positioned to offer innovative, efficient, and localized payment solutions."
The acquisition of AZA Finance is strategically significant as it strengthens dLocal’s presence and capabilities in Africa, particularly in cross-border payments and foreign exchange (FX) settlement. AZA Finance, a wholesale FX desk that settles in multiple fiat currencies, enhances dLocal’s operational infrastructure to handle local currency payouts and foreign exchange more efficiently, which is crucial for Africa's fragmented payment environment.
This deal enables dLocal to capitalise on Africa’s expanding digital economy, projected to be a $40.5 billion market by 2025, driven by rising smartphone usage, mobile data availability, and social commerce growth. By integrating AZA Finance's services, dLocal improves trust and financial confidence in the region’s fintech ecosystem—a key barrier in Africa’s cash-dominant economies—and better serves global digital companies like Netflix, Spotify, Google, and Meta that are expanding in frontier markets.
The acquisition allows dLocal to scale remittance and cross-border payment volumes, and it will expand dLocal's stablecoin and crypto-related services, particularly in high-adoption markets like Nigeria. Nine out of dLocal's top 10 customers are operating with them in Africa, and the acquisition will further strengthen these relationships.
dLocal will integrate Aza's team and technology, tapping into their 11 years of regional experience. The deal is pending regulatory approval, and once finalised, it significantly expands dLocal's footprint in Africa, one of the fastest-growing markets for digital payments and remittances.
Aza founder Elizabeth Rossiello said the deal merges "Africa’s largest FX trading desk" with a "massive global platform." The acquisition aligns with dLocal’s broader strategy to ride the digital adoption wave across emerging markets by servicing global companies rather than picking local winners, mitigating risks while leveraging high-growth regions.
In addition to the African expansion, dLocal has been named one of the Americas' fastest-growing companies by the Financial Times and has secured a UK payment institution license. The company has also partnered with PayPal, Temu, and Airtel, further solidifying its position as a key player in the global payments industry.
The acquisition comes less than five months after the companies began a partnership, and it is expected to improve dLocal's treasury operations and payouts, positioning itself as a critical enabler of Africa’s transition to a cashless economy.
[1] Source: dLocal press release [2] Source: TechCrunch [3] Source: Business Insider [4] Source: The African Business [5] Source: Quartz Africa
- The acquisition of AZA Finance, a cross-border payments platform, by dLocal, a leading payments solutions provider, will enhance dLocal's operational technology by settling payments in multiple fiat currencies, making local currency payouts and foreign exchange more efficient.
- With the integration of AZA Finance's services, dLocal intends to capitalize on Africa's rapidly growing digital economy, aiming to improve trust and financial confidence in the region's fintech ecosystem, better serve global digital companies, and scale remittance and cross-border payment volumes.
