DLocal Expands Into Africa With Acquisition of AZA Finance

Strategic Move Strengthens DLocal’s Presence in Emerging Markets

Uruguay-based fintech DLocal has announced the acquisition of AZA Finance, a leading African cross-border payments provider, as part of its strategic expansion into the African continent. The deal, disclosed in a statement on Tuesday (June 3), is subject to regulatory approval. Financial terms were not disclosed.

This acquisition marks DLocal’s first major move outside Latin America, signaling its ambition to deepen its footprint in high-growth emerging markets.

Who Is AZA Finance?

AZA Finance, headquartered in Nairobi, Kenya, is a fintech company that facilitates payments and foreign exchange in African currencies across dozens of countries. It was valued at approximately $150 million during a funding round in 2023 and is known for its robust infrastructure that enables businesses to seamlessly move money across borders in Africa.

The company operates in markets often underserved by global financial networks, providing businesses with local settlement, liquidity, and compliance expertise—key elements for operating in Africa's fragmented financial landscape.

Why Africa? DLocal’s Vision for Growth

Carlos Menendez, DLocal’s Chief Operating Officer, stated that the acquisition will enhance the company’s access to fast-growing African markets, reinforcing DLocal’s long-term commitment to global financial inclusion.

“Africa represents one of the most promising regions in the world in terms of digital payment adoption and e-commerce growth,” Menendez said.

According to data from McKinsey and the World Bank, Africa’s fintech sector is expected to generate over $150 billion in annual revenue by 2025, with strong momentum in mobile payments, B2B transfers, and cross-border commerce.

DLocal’s Global Strategy: Beyond Latin America

Founded in 2016, DLocal (NASDAQ: DLO) offers cross-border payment solutions for global merchants in emerging markets. It serves top global brands including Temu, Rappi, Amazon, and Uber, and currently operates in over 40 developing economies.

While Latin America has traditionally been its largest market—accounting for around 75% of its revenue—this acquisition signals the beginning of a diversified global growth strategy.

DLocal went public in 2021 and reached a peak valuation of over $20 billion. Despite market fluctuations, the company maintains a solid cash position that supports its buy-and-build strategy for expansion.

Market Reaction and Future Outlook

Following the announcement, DLocal’s stock (DLO) rose by 1% to $10.75, bringing its market capitalization to approximately $3.1 billion. The stock has gained 22% over the past 12 months, reflecting investor confidence in the company’s long-term vision.

Pedro Arnt, DLocal’s CEO, has previously emphasized that the company is open to further acquisitions, leveraging its strong cash flows and operational scale to seize opportunities in high-potential regions.

What This Means for the Fintech Ecosystem

This acquisition is not just a business expansion—it also reflects the growing integration between Latin American and African fintech ecosystems, two regions often overlooked by global incumbents but rich in innovation and demand for digital finance.

With AZA Finance under its wing, DLocal is positioning itself as a bridge between global enterprises and underserved economies, offering reliable, localized payment solutions where they’re needed most.