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Afriex, the Y Combinator-backed cross-border payments infrastructure company, has entered a new sponsor and settlement banking partnership with Global Innovations Bank (GIB).
The relationship strengthens the banking infrastructure behind Afriex’s B2B Payments API, enabling faster settlement, expanded regulatory coverage, and Global USD Account access for businesses moving money across more than 35 countries.
Afriex currently processes more than $600 million in annual payment volume.
“Building global payment infrastructure isn’t just about adding more corridors—it’s about building the banking foundation that makes every transaction faster, more reliable, and easier for our customers to scale,” said Tope Alabi, Founder and CEO of Afriex. “Global Innovations Bank understands the complexity of cross-border payments because their team has lived it firsthand. Their experience and long-term approach make them an ideal partner as we continue building the infrastructure powering the next generation of global fintech.”
Afriex was originally launched as a consumer remittance platform but has since evolved into a payments infrastructure company that powers cross-border payouts for remittance providers, payroll companies, e-commerce platforms, FinTech firms, banks, and other financial institutions.
Founded by Tope Alabi, the company’s API combines licensed local payment rails with global banking connectivity, letting businesses launch and scale international payment products without building local infrastructure themselves.
Afriex is registered with FinCEN as a Money Services Business and holds banking partnerships spanning the United States, Nigeria, and Kenya, including relationships with Choice Bank in Kenya and United Bank for Africa in Nigeria.
Global Innovations Bank was founded by a team with roots in the remittance industry and focuses on serving FinTech companies building modern financial services.
Under the agreement, GIB will provide sponsor and settlement banking services covering faster settlement across supported corridors, Global USD Account access, expanded regulatory coverage, and greater operational resilience as transaction volumes grow.
“Their disciplined compliance programme, strong technical infrastructure, and focus on emerging markets make them exactly the kind of FinTech we want to help scale,” said Alex Goody, chief product officer at Global Innovations Bank. “That experience gives us a deep appreciation for what Afriex has built. Their disciplined compliance program, strong technical infrastructure, and focus on emerging markets make them exactly the kind of fintech we want to help scale.”
The partnership, which became effective in the second quarter of 2026, also lays the groundwork for additional treasury, foreign exchange, and global account capabilities that Afriex plans to introduce over the coming year.
