Grey, the US-based fintech founded by two Nigerians, and Latin American cross-border payments provider dLocal (NASDAQ: DLO) have reported significant progress in their partnership, achieving an average 80% quarterly growth in payout volumes across new markets.
Grey, which serves over one million customers with multicurrency accounts and international payments, expanded to Brazil, Indonesia, Mexico, the Philippines, Ghana, and South Africa in July 2024. A month later, it partnered with dLocal to enable instant, low-cost payments in these regions. The collaboration has since extended to Morocco, Egypt, and Algeria.
Grey’s co-founder and COO, Femi Aghedo, said the partnership has enabled faster onboarding, instant payouts, and greater adoption, creating a more seamless global payments experience. dLocal’s EMEA Head, Agustin Botta, emphasized that the success illustrates how strong cross-border infrastructure can drive scalable growth in emerging markets.
For dLocal, the milestone arrives as it works to rebuild investor confidence after stock volatility and sale speculation. The company has recently intensified expansion efforts, including its planned acquisition of AZA Finance, its first deal outside Latin America.
Meanwhile, Grey, despite raising only $2.5 million since its 2019 founding, has steadily expanded its footprint through partnerships with Clear Junction and Cellulant, building a reputation as a lean but ambitious fintech player.
