Strategic Acquisition Deepens dLocal’s African Payments Footprint

Uruguayan fintech company dLocal has finalized its acquisition of select assets from Kenya-based AZA Finance, marking a significant step in expanding its presence across the African continent.

The deal, which closed on February 27, 2026, included Mint Code Solutions S.A., a Cameroonian payments entity with a local license; intellectual property associated with the AZA Finance brand (held under NeWurth S.A.); and customer relationships within AZA Finance’s African payment operations.

dLocal acquired these assets by canceling outstanding debt previously extended to AZA Finance, valuing the transaction at $23.7 million according to its Q1 2026 financial report.

Regulatory Hurdles and Strategic Value

The acquisition process was prolonged due to regulatory complexities, impacting AZA Finance’s revenue during that period. However, dLocal emphasized that the deal provides strategically important assets for several reasons:

• Enhanced Cameroon Presence: dLocal has been operating in Cameroon through mobile money partnerships since 2020, and this acquisition strengthens its local infrastructure.
• Central African Expansion: The Cameroonian license offers a pathway to expand across Francophone Central Africa, where regulatory approvals can be challenging for foreign companies.
• Operational Efficiency: Instead of building from scratch, dLocal gained an existing licensed payments entity with established customer relationships and operational infrastructure.

Africa’s Growing Importance to dLocal

The company views African expansion as a core growth strategy, with the region already accounting for 29% of its gross profit in Q1 2026—growing at 16% quarter-on-quarter, outpacing the overall company average.

Nigeria and Mozambique have been particularly strong contributors to this growth. With over 760 enterprise merchants globally using a single API, dLocal is focused on deepening its presence in high-potential markets like Africa where digital payment adoption continues to rise.