2024 was an exciting year for Fincra, from introducing a ground-breaking product like our Multicurrency Account API to securing key regulatory licenses, expanding our market presence, and contributing to global conversations on embedded finance.

We made significant strides in building the financial infrastructure for Africa and beyond.

While we are already in full steam in 2025, we want to look at 2024 one more time to reflect on a year of growth, increasing spread and progress for Fincra.

In 2024, we proudly introduced our Multicurrency Account API, a Banking-as-a-Service (BaaS) product designed to empower African and international businesses and platforms by simplifying foreign transactions in USD and EUR, with plans to add more currencies soon.

This product has made a meaningful impact on Africa’s economy, enabling greater participation in global financial systems. With the Fincra Multicurrency Account API, platforms can issue USD and EUR bank accounts to individuals, facilitating transactions in these currencies. It is a game-changer for remittances, e-commerce, and cross-border payments, especially for remote workers and freelancers across Africa.

Our Multicurrency Account API is accessible via seamless integration. Explore the documentation here.

At Fincra, acquiring licenses is a key part of our strategy to enhance the value we provide across diverse markets. In 2024, we achieved two significant regulatory milestones:

IMTO License in Nigeria

We secured the IMTO license from the Central Bank of Nigeria (CBN), enabling us to integrate cross-border payment services into our product offerings in the Nigerian market. This achievement followed a rigorous review and approval process, during which we demonstrated our strong commitment to regulatory compliance, robust anti-money laundering (AML) measures, and counter-terrorism financing (CTF) safeguards.

TPPP License in South Africa

We obtained the TPPP license, allowing us to extend our innovative payment solutions to businesses in South Africa.

These regulatory approvals mark a pivotal step in our mission to build the rails for an integrated Africa.

In a physical representation of our growth, we relocated to a new headquarters connected with story. Once the residence of Sir Frederick Lugard, one of Nigeria’s prominent colonial administrators, this iconic landmark in Ikoyi now stands as a symbol of innovation and progress for Fincra.

A standout moment for us in 2024 was our contribution to the Embedded Finance and Banking-as-a-Service (BaaS) report, developed and branded by the global finance media platform, The Paypers.

In this report, we highlighted our commitment to enabling seamless last-mile collection for cross-border payments. Our feature provided key insights into how Fincra is developing a global payment network to simplify cross-border transactions. This includes building payment rails that integrate with the most popular methods across various African regions, and supporting transactions in different local currencies.

Download and dive into the report here.

In line with our mission to address payment challenges across Africa, we participated in numerous events worldwide, engaging with merchants, businesses, and platforms dedicated to integrating Africa into the global economy.

From attending and exhibiting at booths to speaking and sponsoring, we made our presence felt across three continents and nearly 10 countries. Our journey took us from Nigeria to Kenya, Morocco, Egypt, the Netherlands, United Kingdom and Dubai, where we forged connections with new markets, partners, and merchants.

Do you have an event you’d like us to be part of in 2025? Reach out to us at [email protected].

As we step into 2025, we at Fincra are filled with excitement and anticipation. With major announcements on the horizon, our mission and vision have never been clearer, and our commitment to excellence is stronger than ever.

We’re thrilled to continue this incredible journey with you, and there’s nothing we value more than your support and partnership. Together, we’ll achieve even greater milestones.

Here’s to a brighter and more successful 2025!