THELOGICALINDIAN - A Tanzanian fintech startup appear it has aloft 10 actor in its latest allotment annular and is planning to use the funds to accounts an amplification into added African countries
Fintech Plans to Enter 12 More Countries by Year’s End
The Tanzanian fintech abaft an app that enables payments from the U.K. to Africa, Nala, afresh appear it aloft $10 actor in a allotment annular backed by Amplo, Accel, and Bessemer Partners. So-called angel investors that alternate in this annular accommodate the architect of Robinhood, Vladimir Tenev, and Jonas Huckestein, CTO at Monzo.
According to a report appear by Fintechnews Africa, the fintech’s app already enables payments from the U.K. to bristles African countries: Tanzania, Kenya, Uganda, Rwanda, and Ghana. However, afterward the latest fundraise, Nala will accept added twelve added African countries by the end of 2022, according to the report.
The advertisement additionally appear that Nala has aloof amorphous aerodynamics a adaptation of its app ill-fitted for business bodies that ambition to accomplish payments to Africa. In accession to this new feature, the app already comes anchored with a multi-currency accounts action which allows users in the banishment to abundance bounded African currencies back abroad, the address said.
Cost of Sending Funds to Africa
Meanwhile, in his comments afterward the fundraise, Nala co-founder and CEO, Benjamin Fernandes, explained why his close chose to body this app. He said:
“Payments in Africa are 1% build. It’s 2022 and Africa’s still the best big-ticket abode in the apple to accelerate money in and out of, until this changes we are bound by the opportunities of barter beyond the continent. Over the abutting 5 years, while acumen gets better, added places about the apple are activity to barter in and out of Africa, we are accession ourselves to be at the beginning of this change.”
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