Nigerian fintech startup Grey announced a strategic partnership with dLocal, a leading cross-border payment platform, to fuel its expansion into emerging markets.
This collaboration will enable Grey to leverage dLocal’s expertise and technology to extend its reach and provide seamless payment solutions to customers in previously underserved regions.
With this partnership, Grey will tap into dLocal’s vast network and capabilities, allowing for efficient and convenient cross-border transactions.
Read also: Tumatap: a new payment platform from Interswitch and Elie
The partnership is a significant milestone for Grey, as it marks a major step forward in its mission to make financial services more accessible and inclusive for individuals and businesses in Africa and beyond.
By joining dLocal, Grey is well-positioned to capitalise on the growing demand for digital payments and cross-border transactions in emerging markets.
This collaboration will enable Grey to expand its footprint, offer a more comprehensive range of payment options, improve transaction speeds and reliability, enhance customer experience, and drive business growth and revenue.
Grey fintech: Bridging borders with technology
Idorenyin Obong and Femi Aghedo founded the Grey fintech startup in 2021. The startup provides a seamless international money transfer service, allowing users to send and receive cross-border payments swiftly and without restrictions.
The platform offers products such as foreign bank accounts, instant currency exchange, and international money transfers.
Backed by Y Combinator, Grey secured a US$2 million funding round in 2022 and is currently expanding its reach. Kenya serves as its strategic hub for East African growth.
dLocal, a leading payments platform, facilitates local transactions in emerging markets, bridging the gap between global businesses and millions of consumers across Africa, Asia, and Latin America.
By joining dLocal, Grey will now offer cross-border disbursements to digital wallets and bank accounts, broadening its reach into exciting new markets like Brazil, Indonesia, Mexico, the Philippines, and South Africa, and enabling seamless payments for users worldwide.
Read also: Egyptian fintech Lucky raises $3M to expand credit operations, targets profitability by 2025
Financial solutions for a new era: Grey and dLocal
Grey’s expansion, powered by dLocal, will bring instant, low-cost transfers and comprehensive payment solutions, driving economic growth and financial inclusion.
This will facilitate capital flow, foster innovation, and provide broader access to financial services, creating new opportunities for growth and prosperity and positively impacting the overall economy.
Entering one market is challenging enough, but tackling multiple markets simultaneously is even more daunting,” notes Obong, Grey’s CEO and co-founder.
However, dLocal has simplified payment integration, overcome significant regulatory constraints, and harmonised everything across markets. Their primary strength—a smooth, inclusive global banking experience—is their focus.
