Afriex
Latest round
- Series A
Last raised
- Feb 2022
Total raised
- $13M
Investors
- 15
About Afriex
Based in the US, Afriex Inc.Afriex Inc. specializes in international money transfer services, having been founded in 2019 in Oakland, US.Afriex specializes in international money transfer services, leveraging advanced technology to facilitate quick and reliable remittance solutions for individuals and families across the globe. Their primary offering allows users to send money seamlessly to various countries including Nigeria, Ghana, Ethiopia, and Cameroon, among others, with funds arriving in seconds. The company targets immigrants, specifically those supporting loved ones back home, and emphasizes ease of use through an app-based platform. Afriex's services are designed to address the pain points associated with traditional money transfer methods, such as high fees and lengthy processing times.Afriex generates revenue primarily through transaction fees associated with its money transfer services. Each transaction involves a fee structure that is typically competitive within the industry, enabling users to send various currencies, including USD, GBP, and EUR, in exchange for local currencies such as NGN or GHS. The company operates within a framework that may include B2C interactions, where individual customers utilize the app to send money directly to recipients, as well as potential partnerships with businesses that facilitate larger transaction volumes. The efficiency of the platform, combined with a user-friendly experience, encourages recurring usage and enhances customer retention, contributing to the overall revenue stream. Specific markets targeted for future growth will include additional African countries, with projected expansion timelines to be outlined as strategies develop.
Who invested in Afriex
15 investors across 2 rounds
See all investors in Afriex
Sign up free to see every VC on the cap table, the rounds they joined, and how much each round raised.
Questions about Afriex
Who invested in Afriex?
Afriex has 15 investors on record across 2 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Afriex raised?
Afriex has raised 2 venture rounds. Sign up free to see how much each round raised and the total.
When did Afriex last raise money?
Afriex's most recent round on record is a Series A, in Feb 2022.
What does Afriex do?
Afriex is a financial services company.
Where is Afriex headquartered?
Afriex is headquartered in Oakland, US.
Which VCs invest in companies like Afriex?
Among active investors with capital left to deploy, Radical Ventures, Ribbit Capital, TrueBridge Capital Partners and Tribe Capital back financial services companies at Afriex's stage. Their profiles are linked below.
VCs backing financial services startups at Series A
Raising like Afriex? Find the right VCs.
Capital Atlas matches your startup to active investors by stage, sector and region.