dLocal, the Uruguayan fintech company, has acquired three key assets from Kenya-based AZA Finance for $23.7 million. This transaction, finalized eight months after dLocal’s initial announcement to acquire AZA Finance, reflects a more limited scope than originally anticipated due to regulatory complexities.

The assets acquired by dLocal include Mint Code Solutions S.A., a Cameroonian payments entity along with its payment license; intellectual property associated with NeWurth S.A., the Luxembourg-incorporated company behind the AZA Finance brand; and customer relationships integral to AZA Finance’s African payments business. The value of the transaction, as reported in dLocal’s Q1 2026 financial report, was settled by cancelling debt dLocal had previously extended to AZA Finance.

Initially, dLocal announced plans to acquire AZA Finance in June 2025. Bloomberg had reported that AZA Finance was valued at approximately $150 million in a 2024 funding round. However, dLocal stated that regulatory complications prolonged the timeline for finalizing the transaction, which subsequently impacted AZA Finance’s top-line growth during this period.

Despite the changes from the original acquisition plan, dLocal views the deal as strategically important. The company indicated that these assets would deepen its presence in Cameroon, where it has operated through mobile money partnerships since 2020, and facilitate expansion across the Francophone Central African region.

This revised acquisition underscores the challenges inherent in building payments infrastructure in Africa, where regulatory approvals, licensing, and local relationships can be complex and time-consuming.