Fincra Expands Africa-Canada Payments Infrastructure with Canadian PSP Licence

Fincra, Africa's cross-border payments infrastructure company co-founded by Wole Ayodele, has secured a Payment Service Provider licence in Canada. This regulated presence on both sides of the Africa-Canada corridor replaces inefficient intermediary bank chains that currently slow and inflate nearly every transaction between the regions. The licence allows Fincra to hold funds, initiate transfers, and manage clearing and settlement without routing through intermediaries it has spent years displacing. Canada was chosen deliberately for its significant African diaspora population, trusted regulatory framework, and credible financial system. Between 2019-2024, Canada-Africa merchandise trade grew 13% (exports) and 109% (imports). Fincra's expansion logic—get licensed on both ends of a corridor—sets it apart from competitors like Flutterwave who operate primarily at the product layer. The company now operates across 15+ African markets and 9 currencies, with this Canadian licence marking its most significant regulated foothold outside Africa.

SOURCE: https://techcabal.com/2026/03/17/fincra-licensed-in-canada/