Series A Funding Round Nets Tanzanian Fintech Nala $40 Million
Tanzanian fintech startup Nala has secured $40 million in a Series A funding round led by San Francisco-based venture capital firm Acrew Capital.
The investment is aimed at strengthening Nala’s B2B payment platform, known as Rafiki, and supporting its overall growth strategy. Other participants in the oversubscribed round include DST Global. Norrsken22, HOF Capital, Amplo, NYCA Partners, and notable angel investors Ryan King (Chime) and Vlad Tenev (Robinhood).
Nala CEO Benjamin Fernandes highlighted user demand for enhanced financial control as a driving factor behind expanding Rafiki. The funding will also facilitate infrastructure enhancements and the launch of proprietary payment rails. Positioning Nala for further expansion beyond Africa into global markets.
Clever Robot News Desk 12nd July 2024
