Afriex

Afriex was founded in 2019 by Tope Alabi (Chief Executive Officer) and John Obirije (Chief Technology Officer).^[5]

The company joined Y Combinator's Summer 2020 batch, becoming one of the few African-founded startups accepted into the accelerator ^[6]

Founding rounds included March 2021 - Seed Round: Afriex raised US$1.2 million led by Y Combinator and other investors to expand its remittance and payments infrastructure.^[6] and April 2022 - Series A: The company raised US$10 million, led by Dragonfly Capital with participation from EMURGO (Cardano) and other investors, valuing Afriex at roughly US$60 million.^[1][7]

Afriex initially focused on remittance corridors linking the African diaspora with their home countries.^[8][9] Afriex operates a mobile and web-based wallet that supports person-to-person and business payments. Functions include integration with local financial systems for real-time settlements ^[10].

Between 2023 and 2025, the company broadened its reach into Europe and Asia, launching new corridors in China, India, and Pakistan ^[11][12]

In June 2023, Afriex and Tech Herfrica supported Nigerian women in agriculture by providing free smartphones, POS devices, microfinance loans, and access to digital resources to enhance their businesses.^[13][14]

As of 2025^[update], Afriex reports operations in more than 40 regions worldwide. ^[15][16]