Nigerian fintech startup Grey has partnered leading cross-border payment platform dLocal to drive expansion into new emerging markets.
Launched in 2021 by Idorenyin Obong and Femi Aghedo, Grey offers an international money transfer service that enables its users to send and receive international payments without restrictions quickly. Its products include foreign bank accounts, instant currency exchange, and international money transfers.
The Y Combinator-backed fintech startup raised a US$2 million funding round in 2022, and is busy expanding, having chosen Kenyan as its East African expansion hub.
dLocal, meanwhile, powers local payments in high-growth markets, connecting global enterprise merchants with billions of consumers across Africa, Asia, and Latin America. Through the partnership with dLocal, Grey will provide cross-border payouts to wallets and bank accounts, expanding its services into new markets such as Brazil, Indonesia, Mexico, the Philippines, and South Africa.
This expansion will offer instant, low-cost transfers and comprehensive payment solutions, contributing to economic growth and broader access to financial services.
“Expanding into one country is tough enough, let alone multiple countries at once,” said Obong, CEO and co-founder of Grey. “dLocal has eased payments integration, simplified regulatory challenges, and ensured a consistent experience across all markets, letting us focus on what we do best: delivering an inclusive and seamless global banking experience to our users.”
