About NALA
NALA is a company based in Nairobi (Kenya) founded in 2017 by Benjamin Fernandes. It operates as a FinTech, and Commission-Based. NALA has raised $50.15 million across 4 funding rounds from investors including Bessemer Venture Partners, Accel and Amplo. NALA offers products and services including International Money Transfer and Rafiki API. NALA operates in a competitive market with competitors including Remitly, Paytm, Venmo, Euronet Worldwide and MoneyGram, among others.
- Headquarter Nairobi, Kenya
- Founders Benjamin Fernandes
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Nala Payments Ltd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$50.15 M (USD)
in 4 rounds
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Latest Funding Round
$40 M (USD), Series A
Jul 09, 2024
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Investors
Bessemer Venture Partners
& 16 more
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Employee Count
Employee Count
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Products & Services of NALA
NALA offers a comprehensive portfolio of products and services, including International Money Transfer and Rafiki API. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
International money transfers are facilitated quickly and affordably.
API integration is provided for business payment solutions.
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Funding Insights of NALA
NALA has successfully raised a total of $50.15M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $40 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series A — $40.0M
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First Round
First Round
(01 Jun 2019)
- Investors Count 17
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Series A - NALA | Valuation | Acrew Capital | |
| Jan, 2022 | Amount | Seed - NALA | Valuation | Amplo | |
| Jun, 2019 | Amount | Seed - NALA | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in NALA
NALA has secured backing from 17 investors, including venture fund and angel investors. Prominent investors backing the company include Bessemer Venture Partners, Accel and Amplo. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are funded by Acrew Capital venture firm.
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Founded Year | Domain | Location | |
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Venture capital investment firm
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Founded Year | Domain | Location | |
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Norrsken22 is focused on funding African tech entrepreneurs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by NALA
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - NALA
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Nala Comparisons
Competitors of NALA
NALA operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Remitly, Paytm, Venmo, Euronet Worldwide and MoneyGram, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border money transfers are facilitated via banking networks.
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| domain | founded_year | HQ Location |
Digital payments, financial services, and e-commerce platforms are provided.
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| domain | founded_year | HQ Location |
Consumer payments are enabled via a mobile digital wallet app.
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| domain | founded_year | HQ Location |
Electronic payments and transaction processing solutions are offered globally.
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
Digital wallet for consumer and business payments is provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Nala
Frequently Asked Questions about NALA
When was NALA founded?
NALA was founded in 2017 and raised its 1st funding round 2 years after it was founded.
Where is NALA located?
NALA is headquartered in Nairobi, Kenya.
Who is the current CEO of NALA?
Benjamin Fernandes is the current CEO of NALA. They have also founded this company.
Is NALA a funded company?
NALA is a funded company, having raised a total of $50.15M across 4 funding rounds to date. The company's 1st funding round was a Seed of $150K, raised on Jun 01, 2019.
What does NALA do?
NALA is engaged in providing fast and affordable international money transfer services. Operations are focused on seamless cross-border payments from regions like the US, UK, and EU to Africa, Asia, and beyond. Solutions are built to serve over 500,000 customers with secure transactions and real-time updates. The company is supported by global payment licenses and regulated banking partnerships to ensure safety and reliability. Services are tailored for personal and business needs, addressing significant life events through high transaction limits.
What products or services does NALA offer?
NALA offers International Money Transfer and Rafiki API.
Who are NALA's investors?
NALA has 17 investors. Key investors include Bessemer Venture Partners, Accel, Amplo, Acrew Capital, and DST Global Partners.
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