Tanzanian Fintech Startup NALA Raises USD 10 Mn Funding For Expansion

Tanzanian fintech startup NALA has raised USD 10 Mn from Amplo, Accel, and Bessemer Partners, with participation from angels including the founders of Monzo, Robinhood, Alloy, and Deel. and Peeyush Ranjan, the head of Google Payments plans its expansion across Africa in 2022.

NALA has developed an app that allows users to make payments from the United Kingdom (UK) to Tanzania, Kenya, Uganda, Rwanda, and Ghana. The startup is also piloting a service for businesses. NALA is also planning to launch a crowdfunding campaign this year where their first users will get to own shares in the startup.