a year ago

NALA raises $40M to expand global payments ecosystem

  • NALA, a UK fintech company focused on improving payments to Africa, has secured $40 million in Series A funding led by Acrew Capital

  • This investment marks NALA's second funding round in 20 months, bringing its total funding to over $50 million

  • The company's consumer money transfer app enables users to make secure and reliable payments from Europe, the UK, and the US to 11 African countries

  • NALA's B2B platform, Rafiki, facilitates lightning-fast payments to individuals and businesses globally on the African continent

  • The new funding will enable NALA to expand its global ambitions, particularly by building services for the global migrant diaspora and enhancing its infrastructure for reliable, low-cost payments.

      • ProblemFinancial Services

      "Sending money to Africa is expensive, slow, and unreliable. This makes it difficult for people to support their families back home and for businesses to operate in the region."

      Solution

      "NALA is building a payment network to make it easier, faster, and more affordable to send money to Africa. Their app lets individuals send money to 11 African countries and their B2B platform lets businesses send money to individuals and businesses in Africa."

      Covered on