dLocal acquires AZA assets for $23.7M after regulatory delays

Uruguayan fintech dLocal acquired three key assets from Kenya-based AZA Finance in February 2026, valuing the transaction at $23.7 million through debt cancellation. The acquisition included Mint Code Solutions S.A. (Cameroonian payments entity and license), intellectual property from NeWurth S.A., and customer relationships across AZA's African payments business.

Originally announced in June 2025 with AZA valued at $150 million, the deal faced regulatory complications and was scaled back to targeted asset purchases. Customer relationships accounted for $14.2 million (59.7% of value), highlighting dLocal's focus on immediate market access over technical infrastructure.

Africa represents strategic growth for dLocal, contributing 29% of gross profit in Q1 2026 with Nigeria and Mozambique as top performers. The acquisition gives dLocal regulated infrastructure in Cameroon—a strategic entry point to Francophone Central Africa—where it previously only had mobile money partnerships. This underscores how difficult and time-consuming it is for foreign companies to build payment infrastructure in Africa, where licenses and regulatory relationships can take years to establish.

For Nigerian businesses, this illustrates the value of partnering with established payment infrastructure providers rather than navigating complex regulatory landscapes independently.

SOURCE: https://techcabal.com/2026/05/26/dlocals-aza-finance-asset-deal/