Afriex
The fast, zero-fee cross-border money transfer app powered by stablecoin rails
What it does
Afriex was founded in 2019 by Tope Alabi and John Eke to provide low-cost, instant cross-border money transfers using stablecoin asset rails. The Y Combinator-backed app allows African diaspora users to send remittances to Nigeria and other countries in real time. It is recognized for offering zero-fee international remittance options.
Diaspora remittancesCross-border B2B paymentsMulti-currency accountsStablecoin-based settlement
Known for
- Y Combinator-backed remittance app
- Blockchain-powered cross-border money transfers
- Zero-fee global money transfers
- Multi-currency remittance wallet
Model & industry
SaaSAll / Cross-industry
Funding history
$10.0M
Total raised
1
Rounds
Series A
Latest stage
2022
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2022-04 | Series A | $10.0M | Sequoia Capital China |
Source: Condia Funding Tracker
Products & subsidiaries
Afriex Remittance App · Cross-Border P2P Wallet
People
Investors
Dragonfly CapitalY CombinatorStellar Development FoundationExpaSequoia Capital ChinaGoldcrest Capital