As part of its efforts to provide remittance services, Nala announced that it is also developing a B2B payment platform.

Quick Summary:

Payments company Nala pivoted to offer remittance service in 2021, tapping the growing money transfer market in Africa, and demand for reliable and affordable services.

Nala founder, Benjamin Fernandes, said they intended to build their products on this premise right from the outset.

The company’s scaling plans come against the backdrop of Nala’s revenue growth, which Fernandes said grew 10 times in the last 12 months as its consumer product saw an increase in user base.

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Article Details

Author / Journalist: Annie Njanja

Category: StartupsBusiness

Markets: United StatesEthiopiaKenyaMozambiqueNigerNigeriaRwanda

Topics: Startups Africa Payments Nala Fintech

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-03-19 @ 15:06:30 (1 months ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 811 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 20474125

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