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# Nigerian fintech startup Afriex raises $10 million
- URL: https://www.techloy.com/nigerian-fintech-startup-afriex-raises-10-million/
- Published: 2022-04-25T17:22:00.000Z
- Updated: 2022-04-25T21:24:51.000Z
- Author: Techloy
- Tags: / Startups, / Money, / Fintech

[Afriex,](https://www.afriexapp.com/) a Nigerian-based fintech startup that operates a blockchain money transfer platform, says it has raised $10 million from Sequoia Capital China and Dragonfly Capital with participation from Goldentree, Stellar Foundation, and Exceptional Capital.

- Launched in 2019, Afriex claims that it processes more than $5 million in monthly transfers, and has grown its customer base by 500% in the last six months.
- The company raised a $1.3 million seed round last May, and with its latest funding bringing its total amount raised to $11.3 million, at a valuation of $60 million, according to Forbes.
- Afriex plans to launch a stablecoin and is currently in talks with Visa to offer Afriex users credit and debit cards later this year.