NALA
Founded
2017 in Dar es Salaam, Tanzania — NALA was started to simplify and reduce the cost of international money transfers for the global African diaspora, later evolving into a broader cross‑border payments platform that enables fast, low‑fee transfers from the US, UK, and EU to African and select Asian markets.
Founders & Leadership
Benjamin Fernandes — Founder & CEO (Fintech entrepreneur focused on payments infrastructure and financial inclusion).
Location
New York, USA (headquarters) — with operational presence and teams across Africa including Nairobi and Dakar, serving global remittance corridors into multiple African countries.
Industry
FinTech / Cross‑Border Payments / Remittances — focusing on affordable international money transfers and scalable payment infrastructure for individuals and businesses in emerging markets.
Funding Stage
Series A (Growth Stage) — NALA raised a $40 million Series A round led by Acrew Capital, with participation from DST Global, Norrsken22, HOF Capital and prominent angel backers. Prior to this, the company also closed a $10 million seed round in 2022 to fuel early expansion.
Overview
NALA is a global fintech platform that enables users to send money quickly and affordably from the US, UK, and EU to banks and mobile money wallets across Africa and parts of Asia. The company has scaled remittance services into many markets and is building Rafiki, a B2B payment platform designed to lay the payment rails for the next billion users — supporting enterprise payments and treasury services across borders.
Core Features & Capabilities
International Money Transfers: Fast, low‑cost remittances from Europe, UK, and US into Africa and Asia with transparent rates.
Mobile Wallet & Bank Integration: Transfers directly to mobile money accounts (e.g., M‑Pesa) and bank accounts in supported markets.
B2B Payments (Rafiki): A scalable payment infrastructure product for businesses sending and receiving cross‑border payments.
Multi‑Region Coverage: Supports remittances into 249 banks and 26 mobile money services across 11+ African markets.
User‑Focused Experience: Real‑time tracking, multilingual support (English, Swahili, French), and strong security practices.
Target Market
Global Diaspora & Migrants seeking affordable, fast remittances to family and friends in Africa and Asia.
Small Businesses & Enterprises needing streamlined, affordable cross‑border payment solutions.
Fintech Platforms & Partners integrating remittance and payment rails through APIs and B2B products.
Financial Inclusion Advocates looking to reduce remittance costs and expand digital financial services.
Value Proposition
NALA democratizes access to cross‑border payments by offering a fast, transparent, and low‑cost remittance service tailored to the needs of underserved communities and the diaspora while building scalable payment infrastructure (via Rafiki) that supports businesses and drives financial inclusion across emerging markets.