Kenya-based fintech startup AZA Finance has now expanded into South Africa with the acquisition of cross-border payments specialist Exchange4Free. The acquisition becomes the second one made by AZA after acquiring Spain-based online money transfer platform TransferZero in 2018.
AZA Finance is an established provider of currency trading solutions that, through an advanced API and web infrastructure, extend global access to frontier markets. Over the past 18 months, the startup has also raised an addition USD 20 Mn in funding.
The acquisition will enable AZA Finance to use Exchange4Free’s platform for their services, including its APIs, which provide companies with the FX, treasury, and regulatory enforcement services they need to make cross-border payments into South Africa from over 100 countries.