Waza, a Y Combinator-backed B2B payments startup, has launched Lync, a revolutionary banking product designed to simplify international transactions for African businesses. Leveraging its recent $8 million funding, Lync enables businesses to receive payments and make transactions in over 100 countries, supporting multiple currencies, including USD, EUR, GBP, NGN, and stablecoins.

Unlike competitors, Lync offers direct banking access, eliminating the need for wallet-based systems. This approach streamlines payment reconciliation, as funds are processed directly through businesses’ accounts. The platform provides comprehensive banking features, including ACH, Fedwire, SWIFT, and local payment rails.

The launch of Lync addresses a critical need in the African startup ecosystem. Following Mercury’s restriction of accounts for startups in 15 African countries, many businesses have struggled to manage cross-border payments. Lync provides a reliable and affordable alternative, positioning itself as a vital solution for startups navigating the shifting financial landscape.

Lync’s competitive transaction fees, negotiated through Waza’s fintech expertise, offer lower costs and faster settlement speeds than rival services. The platform will also integrate trade financing services, including pre-shipment and invoice financing, tailored to businesses engaged in international trade.

Waza’s investment in Lync underscores its commitment to empowering African businesses. As demand for robust financial solutions grows, Lync is poised to become a key player in the African fintech ecosystem, addressing critical pain points like compliance, liquidity, and cost efficiency.