NALA
Building cross-border payment rails for diaspora remittances into Africa, focusing on speed and cost efficiency.
A Tanzanian worker in London wants to send money home. Traditional remittance services are often slow and expensive. Many corridors do not connect well to mobile money in Africa.
With NALA, the same user can send money from the UK, the US, or Europe to a mobile wallet or bank account in countries like Tanzania, Kenya, Uganda, Ghana, Nigeria, or Rwanda. Transfers arrive quickly and fees are clear.
NALA focuses on two things. First, a simple app for diaspora users. Second, its own payment infrastructure that reduces cost and improves speed. This turns remittance from a costly service into a scalable business.
Payments improve when a company builds the rails, not only the app.
Key Numbers
Figures based on verified public disclosures as of Q3 2025.
Company Information
NALA is a fintech company founded by Benjamin Fernandes that provides cross-border payments for diaspora users and businesses. The consumer app facilitates remittances, while the B2B product (Rafiki) enables corporate payouts into Africa.
Benjamin Fernandes, Founder & CEO
Leadership
| Role | Name | Background |
|---|---|---|
| Founder & CEO | Benjamin Fernandes | Tanzanian fintech entrepreneur with global experience |
| Team | ~120 employees | Distributed across Africa, Europe, and North America |
| Investors | Accel, DST Global, Acrew, Norrsken22, Amplo, YC | Global fintech investors supporting expansion |
How the Payment Model Works
NALA addresses key pain points in diaspora transfers by reducing fees, accelerating settlement times, and integrating with local mobile money and banking systems. The platform combines consumer-facing services with B2B infrastructure.
What NALA Provides
Growth and Results
NALA has evolved from a domestic Tanzanian transfer service to a global diaspora payments platform. The company reports over 200,000 registered users and approximately $350 million in cumulative transfer volume.
Highlights
- Steady user growth: Over 200,000 registered users with strong retention rates
- Volume acceleration: $350 million in cumulative transfers with increasing monthly volumes
- Dual revenue streams: Consumer remittance fees complemented by B2B infrastructure revenue
- Operational efficiency: Lower customer acquisition costs than traditional providers
Where They Operate
NALA serves diaspora senders in the UK, US, and European markets while supporting payouts across 7 African countries through bank and mobile money integrations.
| Country | Presence | Notes |
|---|---|---|
| Tanzania | Launch | Original base with mobile money integration |
| Kenya | Active | MPESA integration and growing base |
| Uganda | Active | Mobile money and banks |
| Ghana | Active | Significant UK diaspora |
| Nigeria | Active | Bank transfers and growth |
| Rwanda | Active | Mobile money options |
| South Africa | Active | Bank transfer focus |
Expansion continues through new corridors and deeper integrations.
Funding History
NALA has raised venture capital to build diaspora reach and payment infrastructure. The company secured $32 million in its 2024 Series A round, bringing total funding to approximately $45 million.
Main Investors
Competitive Landscape
NALA operates in the competitive cross-border remittance space, differentiating through owned infrastructure that provides cost and speed advantages.
| Company | Model | Scope | NALA’s Edge |
|---|---|---|---|
| NALA | App + rails | 7 countries | Owned payment rails, lower costs |
| Traditional remitters | Agent networks | Global | Higher fees, slower processing |
| Digital apps | App-only | Select corridors | Dependent on third parties |
| Mobile money | Domestic | Single countries | NALA offers cross-border reach |
Key Lessons for Founders
What entrepreneurial insights emerge from NALA’s journey?
- Solve fundamental needs: Diaspora remittances address essential family support with repeat usage
- Control infrastructure: Owning payment rails provides cost advantages and operational control
- Balance consumer and B2B: Consumer apps drive volume while B2B creates sustainable margins
- Price transparency drives adoption: Clear, competitive pricing builds trust
- Local integration is critical: Deep partnerships enable scale
- Compliance enables growth: Robust regulatory frameworks support expansion
• User metrics and volume: NALA investor updates and regulatory filings (2025)
• Funding amounts: SEC Form D filings and Crunchbase data
• Market presence: Company communications and central bank approvals
• Business model: Industry analysis and company disclosures
Data verified through public sources as of November 2025.