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Nala to use $40M Series A to build B2B payments platform, scale remittance services

TechCrunch LogoTechCrunch2w ago

Nala to use $40M Series A to build B2B payments platform, scale remittance services - TechCrunch

Quick Summary:

This growth means demand for remittance services will persist.“In India, migrants send over $125 billion a year and the market is growing with more people leaving.

Fernandes launched Nala in 2017 initially to offer local money transfers in Tanzania but pivoted to enable foreign remittances in 2021.

Through Rafiki, which directly integrates with banks and mobile money providers, Nala says it is able to guarantee service availability for its consumer service.


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Article Details

Author / Journalist: Annie Njanja

Category: StartupsBusiness

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Article Type: News Report

Published On: 2024-07-09 @ 08:04:22 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1426 words

Reading Time: 8 minutes read

Sentences: 59 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © TechCrunch

News ID: 21551833

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