Waza, a B2B payment provider focused on emerging markets, has launched Lync, a multi-currency account platform designed to enhance global trade capabilities.
The new platform integrates advanced foreign exchange (FX) liquidity solutions with a comprehensive banking experience, enabling businesses incorporated in the US, UK, and EU to access financial services more efficiently.
Businesses operating in emerging markets, particularly in Africa, often face significant challenges in accessing essential financial services such as bank accounts and credit facilities. Despite their incorporation in major financial hubs, these companies encounter compliance hurdles, perceived risk concerns, and abrupt service discontinuations by financial providers. Such challenges have resulted in disrupted trade flows and financial losses, limiting business growth and operational scalability.
Lync aims to address these issues by offering a comprehensive solution that includes multi-currency accounts for USD, EUR, GBP, NGN, and Stablecoins. The platform facilitates payments to over 100 countries and supports various payment methods, including ACH, Fedwire, SWIFT, and local payment rails such as the UK’s Faster Payments. This allows businesses to consolidate their FX liquidity and payments under a single platform, streamlining operations and enhancing efficiency.
With FDIC-insured accounts, businesses can confidently explore new markets without concerns about financial security. Lync also offers competitive FX rates, making it an attractive option for companies seeking to expand their global footprint while maintaining cost-effective financial management.
To scale its FX and trade financing operations, Waza secured $3m in seed funding and $5m in venture debt.
Waza CEO and co-founder Maxwell Obi highlighted the platform’s potential, stating, “We created Lync to serve as a pivotal platform that will not only support business payments and liquidity but also drive broader economic growth and prosperity in emerging markets. By unlocking access to essential financial services, we are confident that Lync will empower more businesses to expand, reach new markets and overcome longstanding financial barriers.
“We are incredibly excited about the potential of Lync to transform how businesses operate, making it easier for them to scale, optimize cash flow, and drive sustainable growth.”
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