Afriex is a leading International Money Transfer Operator (IMTO) revolutionizing cross-border payments for Africans and diaspora communities. Founded in 2019, the platform combines competitive exchange rates, zero transfer fees, and innovative features like multi-currency accounts to simplify global money transfers. With operations in over 32 countries and support for USD, GBP, EUR, and African currencies, Afriex has processed millions of dollars in transactions, empowering freelancers, remote workers, and businesses to manage finances seamlessly.

What is Afriex?

Afriex is a fintech platform enabling instant, low-cost international money transfers and multi-currency financial services. Its mission is to unlock economic opportunities for Africans by providing affordable, accessible, and reliable cross-border payment solutions. The app supports transfers to bank accounts, mobile wallets, and other users in key markets like Nigeria, Ghana, Kenya, Uganda, the US, UK, and Canada.

Core Services:

● Instant transfers with zero fees for most transactions.

● Global Accounts for holding and managing USD, GBP, and EUR funds.

● Competitive exchange rates closer to mid-market rates than traditional banks.

● 24/7 customer support via in-app chat or email.

Who Owns and Operates Afriex?

Afriex was co-founded in 2019 by Tope Alabi (CEO) and Obirije John (CTO), who identified inefficiencies in remittance services while working in the US and Nigeria. Backed by investors like Y Combinator, Sequoia Capital China, and Dragonfly Capital, the startup has raised over $11.3 million to expand its infrastructure and regulatory compliance.

Leadership:

● Tope Alabi (CEO): Drives strategic growth and partnerships.

● Obirije John (CTO): Oversees technical innovation and security protocols.

Regulatory Compliance:

Afriex adheres to FinCEN (US), FCA (UK), and central bank regulations in operating countries. It employs PCI DSS-certified encryption and AML/KYC checks to ensure secure transactions.

How Does Afriex Work?

Sending money via Afriex takes minutes:

1. Sign Up: Download the app and verify your identity.

2. Choose Recipient: Send to a bank account, mobile wallet, or Afriex user.

3. Select Currency: Convert funds at live rates or use a Global Account balance.

4. Track Transfers: Monitor status in real time via the app.

What Are the Fees and Exchange Rates?

Afriex stands out for its zero-fee transfers on most transactions, though small fees apply for cash withdrawals. Exchange rates are updated in real time and are typically 1–2% better than banks or competitors like Western Union.

Loyalty Programs: Frequent users receive priority support and fee waivers for large transactions.

How Fast Are Transfers with Afriex?

● Afriex-to-Afriex: Instant.

● Bank Deposits: 90% complete within 30 minutes.

● Cash Pickup: Available in under 1 hour.

Delays may occur due to recipient bank processing or regulatory checks. For urgent transfers, use debit card funding.

Is Afriex Secure and Regulated?

Afriex uses military-grade encryption, two-factor authentication (2FA), and biometric logins. It complies with:

● AML/KYC Policies: Requires ID verification and BVN (for Nigerian users).

● Global Standards: Registered with the US FinCEN and UK FCA[5][6].

No security breaches have been reported since its launch.

Which Countries and Payment Methods Are

Supported?

Key Corridors:

● US/UK/Canada → Nigeria, Ghana, Kenya, Uganda

● Europe → Nigeria, Kenya

● Intra-Africa transfers.

Payment Methods:

● Debit/credit cards (Visa, Mastercard).

● Bank transfers (ACH, SEPA).

● Mobile money (M-Pesa, Airtel Money).