Grey, a Nigerian fintech startup, has announced a strategic partnership with leading cross-border payment platform, dLocal, to drive its expansion into new emerging markets. This collaboration aims to enhance Grey’s international money transfer services and broaden its global reach.
Founded in 2021 by Idorenyin Obong and Femi Aghedo, Grey has quickly established itself as a key player in the fintech space. The company provides a range of services including:
- International money transfers
- Foreign bank accounts, and
- Instant currency exchange
allowing users to send and receive payments globally without restrictions.
In 2022, as reported by BitKE, Grey successfully raised $2 million in funding and has since been focused on growth with Kenya designated as its East African expansion hub.
Nigerian 🇳🇬 fintech, Grey, has raised $ 2 million as it sets out to grow its virtual currencies service tailored for digital workers.
With @greyfinance you can now pay for services directly to M-PESA or other mobile money accountshttps://t.co/3Cl35hlhb4
— BitKE (@BitcoinKE) September 13, 2022
dLocal is a leading platform for local payments in high-growth markets, connecting global enterprise merchants with billions of consumers across Africa, Asia, and Latin America. The partnership with dLocal will enable Grey to expand its services into new markets, including:
- Brazil
- Indonesia
- Mexico
- The Philippines, and
- South Africa
Through this collaboration, Grey will offer cross-border payouts to wallets and bank accounts, ensuring instant and cost-effective transfers.
The partnership with dLocal is significant as it is set to enhance Grey’s ability to provide instant, low-cost transfers and comprehensive payment solutions. This expansion is expected to contribute significantly to economic growth and increase access to financial services in these new markets.
Idorenyin Obong, CEO and Co-Founder of Grey, commented:
“Expanding into multiple countries simultaneously presents significant challenges.
dLocal has simplified payments integration, navigated regulatory complexities, and ensured a consistent user experience across various markets. This allows us to focus on our core mission: delivering an inclusive and seamless global banking experience for our users.”
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About Grey
Grey is a leading fintech startup based in Nigeria, offering innovative international money transfer solutions and financial services.
Founded in 2021, the company is dedicated to providing seamless and efficient global financial transactions.
About dLocal
dLocal is a global payments platform that specializes in local payments within emerging markets.
The company connects international businesses with consumers across Africa, Asia, and Latin America, enabling secure and efficient transactions.
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