Nala, a London, UK-based fintech company which specializes in payment services, raised $40M in funding.
The round was led by Lauren Kolodny of Acrew Capital, with participation from DST Global, Amplo, Norrsken22, HOF Capital, Ryan King, and Vlad Tenev.
The company intends to use the funds to:
- Expand its consumer business beyond Africa and building services for the global migrant diaspora.
- Build Rafiki, its new B2B payments platform.
Led by CEO Benjamin Fernandes, CTO Nicolas Esteves, and COO Nicolai Eddy, Nala provides:
- a consumer money transfer app that enables users to make secure and reliable payments from Europe, the UK, and the US to 11 African countries in seconds.
- Rafiki – a B2B platform which enables fast payments to individuals and businesses globally on the African continent.
The past 12 months have seen the company achieve a 10x increase in revenue, reached profitability, and had positive cash flow. In the past 20 months, Nala saw a 34x increase in transaction volume. The team has grown from 7 members to a team of over 100. The company serves 500,000 customers.
FinSMEs
09/07/2024