Waza Emerges from Stealth with $8M to Revolutionize Cross-Border Payments for African Businesses

Waza, a promising new player in the fintech space, has officially stepped into the spotlight with a solid $8 million in funding to transform how African businesses handle global trade.

Founded by fintech veterans Maxwell Obi and Emmanuel Igbodudu, Waza is setting out to address the critical liquidity and payment challenges that many African enterprises face when trading across borders.

“We’re on a mission to bridge the foreign exchange and liquidity gap that many African businesses face. Our goal is to empower these businesses to access more global trade opportunities, which are crucial for driving economic growth and development in the markets we serve,”

said Maxwell Obi, Waza’s co-founder and CEO.

Launched in January 2023 after participating in Y Combinator’s Winter batch, Waza has already made significant strides. The platform focuses on simplifying the complex world of cross-border payments for businesses, ensuring that suppliers get paid faster and more affordably.

In just a short time, Waza has processed over $700 million in annualized payment volume, helping hundreds of businesses across six continents navigate the often tricky landscape of international trade.

The startup's impressive growth has attracted notable investors, with $3 million in equity coming from Y Combinator, Norrsken Africa, Byld Ventures, and others. Additionally, Waza secured $5 million in debt financing from Timon Capital, which will be used to pilot trade financing for large enterprises—a massive market with untapped potential.

Maxwell Obi:

“Our value proposition has always been on affordability and speed of settlement,”

Obi added.

“We’ve built strong global banking relationships and partnerships, giving us an edge in offering a cheaper and faster solution for cross-border payments. This is how we’ve been able to attract and retain our customers so far.”

Waza's founders, with their experience in fintech and engineering, are determined to provide African businesses with the tools they need to thrive in global markets. As they expand beyond Ghana and Nigeria, their vision is clear: make cross-border B2B payments seamless, fast, and cost-effective, ultimately empowering African businesses to seize more global opportunities.