Fintech Company Afriex Closes $10 Million Series A Funding Round Co-Led by Sequoia China and Dragonfly Capital

Afriex, a Nigerian fintech startup, has closed a US$10 million Series A round of funding, valuing the company at US$60 million. The round was co-led by Sequoia Capital China and Dragonfly Capital, with participation from Goldentree, Stellar Foundation and Exceptional Capital. Afriex is said to be focused on its core money transfer product for now, with the hope of launching a stablecoin in the future, and has already inked a partnership with Visa to offer Afriex users credit and debit cards later this year.