dLocal Ltd, a cross-border payments platform focused on emerging markets, has agreed to acquire AZA Finance, a Nairobi-based foreign exchange and payments firm, in a move aimed at expanding its footprint across Africa and strengthening its treasury capabilities.
The deal, which is subject to regulatory approval, will give dLocal access to AZA Finance’s robust pan-African infrastructure and trading desk, significantly scaling its FX and remittance operations across the continent. Terms of the deal were not disclosed.
“Our acquisition of AZA Finance will increase access for our global merchants to Africa’s dynamic, growing markets,” said Carlos Menendez, dLocal’s Chief Operating Officer. “By combining dLocal and AZA Finance, we are well-positioned to offer innovative, efficient, and localized payment solutions.”
Founded in 2013 by Elizabeth Rossiello, AZA Finance has processed over $9 billion in cross-border transactions across Africa and operates one of the continent’s largest trading desks for fiat and stablecoin FX. The firm provides treasury and liquidity solutions to enterprises operating in or expanding into Africa’s fragmented currency landscape.
“Over the past 11 years, we’ve built Africa’s largest and most efficient trading desk for fiat and stablecoin foreign exchange,” said Rossiello. “We look forward to integrating our technology and expertise with dLocal’s global platform.”
The acquisition bolsters dLocal’s over-the-counter FX capabilities, expands its stablecoin coverage, and improves payout efficiency — key components in its global treasury strategy. It also reflects dLocal’s ongoing inorganic growth push, following its 2022 acquisition of PrimeiroPay in Brazil.
The announcement caps a strong first half of 2025 for dLocal, which recently secured a payment institution license from the UK’s Financial Conduct Authority and was named one of the Americas’ fastest-growing companies by the Financial Times. The company has also struck new partnerships with firms including PayPal, Temu, Airtel, Coda, and Belmoney.
dLocal connects global merchants to 40+ emerging markets through one API and one platform, enabling localized payments and collections for companies like Amazon, Google, and Spotify.