Azafinance
101 employees on LinkedIn Β· 7 known investors
AZA Finance is a fintech platform that connects businesses to frontier markets and currencies.
Also known as AZA Finance Β· BitPesa Β· BTC-Africa
Founders & leadership
Investors Β· 7
Also in the syndicate Β· 1
Company profile
researched Aug 2026AZA Finance is an international fintech that provides businesses with foreign exchange, cross-border payments, settlement and treasury services across major African and G20 currencies. It positions itself as a financial infrastructure partner for companies operating in or expanding into African and other frontier markets, addressing the shortage of financial services able to operate across multiple African countries and currencies. Services are grouped into treasury (liquidity access), payments (international and intra-Africa), currency exchange and collections, delivered through an API and a web platform.
The company supports more than 30 currencies, including African currencies such as BWP, EGP, GHS, GNF, KES, MAD, MZN, NGN, TZS, UGX, XAF, XOF, ZAR and ZMW, alongside Asia-Pacific, Americas and European currencies. Its network offers instant settlement across 300+ currency pairs in 115+ markets in Africa, Europe, Asia and North America, plus mobile money and other last-mile payout channels. Flagship products have included TransferZero, a B2B2C product offering wholesale currency purchase and retail settlement via API, and BFX, a business-facing over-the-counter platform.
AZA Finance is regulated and licensed by the Bank of Uganda, the UK Financial Conduct Authority, the Central Bank of Nigeria and the South African Reserve Bank, with the Bank of Spain also cited on its site, and holds PCI-DSS, ISO 27001:2022 and SOC II security certifications. It cites 99.5% uptime and 24/7 support. The company was formerly known as BTC-Africa and BitPesa.
Founding story
The company was founded in 2013 in Nairobi, Kenya, by Elizabeth Rossiello, who serves as CEO; third-party profiles also list Charlene Chen as a co-founder/director.
Business model
AZA Finance operates a B2B financial infrastructure model, selling FX, cross-border payment, collection, settlement and treasury services to enterprises, money transfer operators and multinational corporations, accessed via APIs (including a bulk payment API and online payments) and a web platform. It has also offered a B2B2C product (TransferZero) combining wholesale currency purchase with retail settlement, and an over-the-counter platform (BFX) for businesses.
Revenue derives from business cross-border payment, foreign exchange and treasury transactions, with the company emphasising transparent pricing and competitive rates on currency conversion and payouts.
Traction
The company reports serving more than 26,000 companies and, following the Exchange4Free acquisition, expected to more than double transaction volume to $2.5 billion in 2021 with reach extended to 115 countries. Its website presents aggregate counters for transactions, funds transferred, customers served and countries covered. Publicly listed employee estimates range from 101-200 to 201-500.
Latest developments
AZA Finance announced that, pending regulatory approvals, it has agreed to be acquired by cross-border payments platform dLocal, which cited strengthening its presence in Africa and expanding capabilities. The company was named a Top 10 Winner in the 2025 Inspiring Workplaces Awards for the Middle East & Africa, and CEO Elizabeth Rossiello was named by Sifted among nine female fintech founders to watch.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Described as Africa's leading cross-border payments provider with more than ten years of operation, and, following the Exchange4Free acquisition, as the largest fintech provider of treasury and FX services to frontier markets. Third-party profiles list Conduit and Waza as comparable companies.
Differentiators cited include multi-country regulatory licensing across Africa and Europe, deep liquidity in 30+ currencies with API access, instant settlement across 300+ currency pairs in 115+ markets, mobile money and last-mile payout coverage where other providers cannot pay out in local currencies, and enterprise-grade security certifications.
Technology
The platform combines an API-first infrastructure and web interface for FX, payments, collections and treasury, with connections to bank networks and mobile money operators for last-mile payouts across Africa. It cites PCI-DSS, ISO 27001:2022 and SOC II certification and 99.5% uptime. Acquired technology from Exchange4Free added APIs for FX, treasury and regulatory compliance services enabling cross-border payments into South Africa from more than 100 countries. Third-party listings associate the company with blockchain and crypto sectors under its earlier BitPesa identity.
Go-to-market
Direct enterprise sales supported by a contact-sales motion on its website, technical integration via APIs, and partnerships with money transfer operators and remittance providers; growth has also come through acquisitions of regional payment specialists.
Businesses operating in or paying into Africa and other frontier markets, including remittance providers and money transfer operators (e.g. Western Union, WorldRemit, Mama Money, CentBee, Transfast, SLOT, Africhange, Azimo, IDT/Boss Revolution and I-Transfer), multinational corporations and SMEs.
Geography
Headquarters have been reported in London, United Kingdom, with a founding base in Nairobi, Kenya. Offices span Nigeria, Ghana, Senegal, Uganda, South Africa, Kenya, Spain, the UK and the SEPA area, with market coverage across Africa, Europe, the Middle East, Asia-Pacific and North America.
History
Founded in 2013 in Nairobi and formerly known as BTC-Africa and BitPesa, the company expanded into treasury and FX services for frontier markets and rebranded as AZA Finance. In 2021 it agreed to acquire Exchange4Free, the largest South African non-bank currency broker, its second acquisition, extending reach to 115 countries. It has subsequently announced that, pending regulatory approvals, it has agreed to be acquired by cross-border payments platform dLocal.
Risks & controversies
The pending acquisition by dLocal is subject to regulatory approvals. The company operates in multiple regulated jurisdictions, holding licences from the Bank of Uganda, UK FCA, Central Bank of Nigeria and South African Reserve Bank, and faces consolidation pressure in the cross-border payments sector alongside players such as Ebury, Monzo, Revolut and TransferWise.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Competitors Β· 1
by search overlap
Companies competing with Azafinance for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline Β· 5
launches, deals, and filingsAZA Finance announced that, pending regulatory approvals, it has agreed to be acquired by cross-border payments platform dLocal, which aims to strengthen its presence in Africa and expand its capabilities.
Sifted featured AZA Finance founder and CEO Elizabeth Rossiello as one of nine female fintech leaders shaping the industry.
AZA Finance was recognised as a Top 10 Winner in the 2025 Inspiring Workplaces Awards for the Middle East & Africa, with judges highlighting leadership and employee wellbeing.
AZA Finance agreed to acquire cross-border payments specialist Exchange4Free, the largest South African non-bank currency broker, its second acquisition, expected to more than double transaction volume to $2.5 billion in 2021 and extend reach to 115 countries across Africa, Europe, the Middle East, Asia-Pacific and North America.
AZA Finance raised $35 million in a combined Series B debt and equity funding round to expand operations in the Middle East and North Africa, including a $15 million debt facility from the Development Bank of Southern Africa (DBSA).
$35M source β
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 8
primary sources listed
- Azafinanceazafinance.com Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Azafinance do?
- AZA Finance is a pan-African fintech providing cross-border payments, foreign exchange, treasury and settlement services to businesses.
- Who founded Azafinance?
- Azafinance was founded by Elizabeth Rossiello.
- Who are Azafinance's investors?
- Azafinance's investors include Colle Capital Partners, Digital Currency Group, Future Perfect Ventures, Greycroft, Pantera Capital, Wamda Capital.