Acquisition of Aza Finance by dLocal for $150 million, marking a significant move by the Latin American company into the African market.
dLocal, a Latin American payments giant, has announced its acquisition of Aza Finance, a cross-border payments platform focused on Africa, for an estimated $150 million. This strategic move is aimed at expanding dLocal's footprint in the fast-growing African market [1][2][4].
The acquisition enables dLocal to facilitate more efficient cross-border and local currency payments within Africa, enhancing its service offering to global merchants targeting this region. Aza Finance operates as a wholesale FX desk that already settles in fiat currencies, providing dLocal with the ability to execute fund payouts in local currencies and stablecoins (USDC/EURC), thereby improving liquidity and settlement speed for cross-border transactions in Africa [1].
The deal marks dLocal's first major acquisition outside Latin America and significantly expands its footprint in Africa. Nine out of dLocal's top 10 customers are operating with the company in Africa, underscoring the strategic importance of this market [1][4].
Elizabeth Rossiello, founder of Aza Finance, described the deal as merging "Africa's largest FX trading desk" with a "massive global platform." Carlos Menendez, dLocal's COO, added that the company is "well-positioned to offer innovative, efficient, and localised payment solutions" [1].
The acquisition is expected to accelerate market penetration in Africa by leveraging Aza Finance’s existing payments infrastructure and local expertise. It will also enhance the product offering for merchants seeking to expand across African countries with more reliable, compliant, and multi-currency payment solutions [1][4].
The potential to capture a growing total addressable market in cross-border commerce and e-commerce volume, which is expected to experience double-digit growth in emerging economies, including Africa, is another significant benefit [1]. The acquisition also strengthens dLocal’s competitive position among fintech players by offering wholesale FX and payment solutions tailored for African markets that traditionally present complex regulatory and FX challenges [1][4].
The acquisition comes less than five months after the companies began a partnership, and it fits dLocal’s broader growth theme for 2025, which includes broadening its license portfolio and global regulatory reach to sustain strong revenue and operating profit growth as part of its evolution from a Latin America-focused startup to a truly global payments platform [1][2].
The acquisition is pending regulatory approval and, once completed, dLocal plans to integrate Aza's team and technology, tapping into their 11 years of regional experience. The deal is expected to improve dLocal's treasury operations and payouts, particularly in high-adoption markets like Nigeria, where 77% of crypto users have converted local currency to stablecoins [1].
dLocal has been named one of the Americas' fastest-growing companies by the Financial Times, and the company has partnered with notable entities such as PayPal, Temu, and Airtel. The acquisition of Aza Finance is a testament to dLocal's commitment to expanding its services and strengthening its position in the global payments industry.
[1] - Source: BusinessWire [2] - Source: Reuters [4] - Source: Yahoo Finance
- The acquisition of Aza Finance empowers dLocal to offer innovative and efficient payment solutions that cater to local currencies and stablecoins in African markets, boosting its service offering to global merchants targeting this region.
- Leveraging Aza Finance's existing payments infrastructure and local expertise, the merger accelerates market penetration in Africa for dLocal, enabling it to expand its footprint in a strategically important market and capture a growing total addressable market in cross-border commerce and e-commerce volume.
