Cross-border payment company dLocal has announced that it plans to acquire AZA Finance to deepen its reach in Africa. The deal, which remains subject to regulatory approval, will provide dLocal with increased scale on the 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. 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,” Carlos Menendez, Chief Operating Officer, dLocal, said in a statement.
Although the value of the deal remains undisclosed, Bloomberg reports that the deal is valued at around $150 million.
Founded in 2013, AZA Finance provides payments, remittance, and foreign exchange services in Africa. The startup says it has processed more than 15 million transactions and served over 1.5 million users since its inception.
The startup is backed by investors such as Flutterwave investor Greycroft, Plug and Play, and Draper Associates and has raised more than $15 million across multiple rounds. Its last funding round came in 2021 when it received $15 million from the Development Bank of Southern Africa.
Meanwhile, dLocal, based in Montevideo, Uruguay, was founded in 2016 and processed more than $25.6 billion worth of payments in 2024 alone. It is also present in more than 40 countries, including 12 African countries. In 2023, Bloomberg reported that the company was exploring a potential sale, which never materialised.
Its acquisition of AZA Finance will be its first on the continent, where it has previously established partnerships with companies such as iTransfer and Airtel Money. It would also be its largest acquisition to date.
By leveraging AZA’s strong regional infrastructure and regulatory expertise, dLocal aims to deliver more seamless cross-border transactions and broaden its merchant base in African markets. The acquisition could also enable it to compete with global payment giants currently operating on the continent.
