Nigerian FinTech startup Afriex raised $10 million in Series A led by Sequoia Capital China and Dragonfly Capital where Goldentree, Stellar Foundation, and Exceptional Capital, among others also participated.
Afriex was founded as part of an effort to develop a money transfer system that will allow users to transfer money in a decentralized manner. The funding will be critical to Afriex’s strategic expansion plans, as well as to the startup’s long-term goal of creating a service similar to Visa.