Waza Emerges From Stealth, Secures $8 Million to Expand B2B Payment Solutions Across Emerging Markets
Waza, a Nigerian B2B payment and liquidity provider for emerging markets, has emerged from Stealth to secure $8 million in equity and debt funding to fuel its expansion beyond its current operations in Ghana and Nigeria and to introduce new trade finance solutions.
The funding round includes a $3 million seed equity investment from notable investors such as Y Combinator, Byld Ventures, Norrsken Africa, Heirloom VC, Plug and Play Tech Center, and Olive Tree Capital, along with $5 million in debt funding from Timon Capital aimed at piloting trade financing for large enterprise clients.
CEO and co-founder of Waza, Maxwell Obi, highlighted that this milestone brings the startup closer to its mission of revolutionizing B2B payments and enhancing liquidity access for businesses across Africa.
He said, “By providing a more efficient settlement infrastructure, we are bridging the foreign exchange and liquidity gap, empowering African businesses to tap into global trade opportunities that will drive economic growth and development in the markets we serve.”
This development comes amid growing demand for cross-border payments, driven by increased remittance flows and global trade.
Waza which began operations in January 2023 after participating in Y Combinator’s winter batch that month, will aim to capitalize on this trend and make its mark in the global payments market, starting with Africa.
Since its launch, the startup has served hundreds of businesses, processing over $700 million in annualized payment volume and facilitating business transactions across six continents, with a monthly growth rate of 20%.
