NALA Shook Remittances—Now Its Founder Wants To Put Money Where His Mouth Is
- NALA secures $40 million Series A funding round to expand beyond the African cross-border payments market.
- The company has achieved significant growth in the remittance space, targeting the African diaspora.
- NALA has developed its own B2B payment platform, Rafiki, to address reliability issues in the remittance ecosystem.
NALA's strategic pivot to international remittances has proven successful, with remarkable growth and profitability. The development of their own B2B payment platform, Rafiki, demonstrates their commitment to addressing reliability issues in the remittance ecosystem. However, NALA faces increasing competition in the market and will need to differentiate itself to achieve its broader vision of becoming a comprehensive financial services platform for Africa.
