Nairobi Startup Processes $50M for African Freelancers

James Mugambi keeps meeting the same frustrated people: talented freelancers who've earned their pay but can't touch it. Their international payments from Upwork or PayPal arrive late, get flagged for mysterious compliance checks, or simply vanish into banking limbo while rent comes due.

His company Hurupay is fixing that problem. The Nairobi startup gives African freelancers virtual bank accounts in dollars, euros, and pounds so they can receive international payments instantly and cash out to local banks or mobile money.

The results speak loudly. Since January 2025, Hurupay has processed over $50 million in payments and turned profitable, even while operating with just 10 people.

Co-founders Philip Mburu, Allan Okoth, and Mugambi launched Hurupay in 2023 as a traditional money transfer service. They quickly realized that market was packed with hundreds of competitors fighting over the same customers.

So they pivoted last November to focus exclusively on remote workers. These freelancers face a specific nightmare: platforms like PayPal flag their accounts because of their location, or employers simply can't send money easily to emerging markets.

Hurupay's solution is elegant. Sign up, verify your identity, and receive three virtual accounts for dollars, euros, and pounds. Add these accounts to Upwork, Fiverr, or any global platform, and payments arrive as if you lived in New York or London.

Behind the scenes, the tech gets complex. Hurupay uses US and European banks to issue virtual accounts, converts funds to dollar-backed stablecoins like USDC, then routes withdrawals through local banking partners across Nigeria, Kenya, Ghana, and beyond.

The Ripple Effect

Hurupay charges 2% per payment plus 50 cents in network fees, yet operates with 40% profit margins. That lean model means they earn 40 cents for every dollar spent, a sustainability rare among African fintechs.

The company processed over $10 million in February alone and generated more than $500,000 in revenue over 12 months. That growth rides a bigger wave: stablecoins now account for 43% of all crypto transactions in Sub-Saharan Africa, with the region moving $205 billion in blockchain value last year.

For thousands of freelancers, this means something simpler than blockchain stats or fintech jargon. It means doing great work for international clients and actually getting paid on time, without begging customer service or watching helplessly as money disappears.

The model works because it solves one problem extremely well rather than trying to be everything to everyone. While giants like Western Union and dozens of African startups fight over general remittances, Hurupay owns a specific niche: people who earn globally but live locally.

Remote work is only growing across Africa, and every new freelancer needs a reliable way to get paid.