NALA Secures $40M Series A Funding to Expand Global Services and Develop Rafiki Platform

NALA raises $40M to expand services for the global migrant diaspora and develop the Rafiki payments platform.

NALA has announced the successful completion of its Series A funding round, securing $40 million to propel our ambitious global growth plans.

Benjamin Fernandes, Founder and CEO of NALA, highlighted two key areas where this new funding will drive progress. First, NALA aims to extend its consumer services beyond the African continent, targeting the global migrant diaspora. This expansion will enable NALA to provide more comprehensive financial services to a wider audience, addressing the unique needs of migrants worldwide.

Second, NALA will focus on the development of Rafiki, a new B2B payments platform designed to revolutionize payment infrastructure for the next billion users. Rafiki will lay reliable payment rails, manage treasury functions directly, improve error mapping, reduce user costs, and streamline payouts and collections. Drawing parallels to dLocal’s impact in Latin America and AirWallex’s transformation of the Asian market, Rafiki is set to build a robust and reliable payment system for Africa.

This significant funding milestone marks a new chapter for NALA as we continue to innovate and expand our services to meet the evolving needs of our users globally.

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