July 11

NALA Raises $40 Million to Build Cross-Border Payments for Emerging Markets

NALA, a leading UK fintech company, announced today that it has raised $40 million in Series A funding to support its global expansion and enhance the reliability of payments to Africa by developing its payment rails.

The past 12 months have been transformative for NALA. The company achieved 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 NALA team has grown from just 7 members to a robust team of over 100. Finally, today, NALA proudly serves 500,000 customers.

Source: Financial IT (link opens in a new window)

business development, financial inclusion, fintech, remittances