NALA

NALA is a cross-border payments company building infrastructure for emerging markets, starting with Africa. Its consumer app lets people in the UK, US and EU send money to 11 African countries via mobile wallets and bank rails, while Rafiki — its B2B platform — provides a single API for global businesses to make payments into the region.

The company is increasingly building stablecoin-enabled settlement rails, partnering with players like MoneyGram to move money into Africa and Asia. NALA holds money transmission licences across multiple US states and operates regulated entities in the UK and EU through partnerships with electronic money institutions.

Founded by Benjamin Fernandes in 2018, NALA was the first East African startup admitted to Y Combinator in 2019. It has raised more than $50M to date, including a $40M Series A in 2024 led by Acrew Capital. NALA has been named to the Forbes Fintech 50 in consecutive years.