NALA, a leading fintech company, has announced the successful completion of its Series A funding round, securing an impressive $40 million to propel its ambitious global growth plans. This milestone funding is set to significantly bolster NALA’s mission of expanding its consumer services beyond the African continent and developing an innovative B2B payments platform, Rafiki.
Global Expansion to Serve Migrant Diaspora
Benjamin Fernandes, Founder and CEO of NALA, emphasized the importance of this new funding in driving the company’s expansion plans. NALA aims to extend its consumer services to the global migrant diaspora, addressing the unique financial needs of migrants worldwide. This strategic move will enable NALA to provide more comprehensive and accessible financial services to a wider audience, ultimately enhancing the financial well-being of migrants across the globe.
“Our vision has always been to create a seamless financial ecosystem that caters to the needs of all users, regardless of their geographic location,” said Fernandes. “With this funding, we are excited to take our services to the next level and make a meaningful impact on the lives of migrants who often face significant financial challenges.”
Introducing Rafiki: Revolutionizing B2B Payments
In addition to its global expansion, NALA is set to focus on the development of Rafiki, a cutting-edge B2B payments platform designed to revolutionize payment infrastructure for the next billion users. Rafiki aims to lay reliable payment rails, manage treasury functions directly, improve error mapping, reduce user costs, and streamline payouts and collections.
Drawing parallels to dLocal’s transformative impact in Latin America and AirWallex’s success in the Asian market, Rafiki is poised to build a robust and reliable payment system for Africa. By providing businesses with an efficient and cost-effective payment solution, Rafiki is expected to drive economic growth and facilitate financial inclusion across the continent.
“We envision Rafiki as a game-changer in the world of B2B payments,” added Fernandes. “Our goal is to create a platform that not only simplifies payment processes but also empowers businesses to thrive in the global economy. This funding will accelerate the development of Rafiki, bringing us closer to achieving this vision.”
A New Chapter for NALA
The successful Series A funding round marks a new chapter for NALA as it continues to innovate and expand its services to meet the evolving needs of its users globally. With the support of investors and partners, NALA is well-positioned to drive positive change in the fintech industry and contribute to the economic empowerment of communities worldwide.
As NALA embarks on this exciting journey, the company remains committed to its core values of inclusivity, innovation, and excellence. By leveraging technology to create accessible and reliable financial solutions, NALA aims to build a brighter future for individuals and businesses alike.
In conclusion, the $40 million Series A funding secured by NALA represents a significant milestone in the company’s growth trajectory. With plans to expand its consumer services globally and develop the revolutionary Rafiki platform, NALA is set to make a lasting impact on the financial landscape. As the company continues to push the boundaries of innovation, it remains dedicated to empowering its users and driving economic progress on a global scale.
