NALA, a global fintech company focused on simplifying cross-border payments, especially for Africans living abroad, has expanded its services into Kenya to make it easier and cheaper to send money back home.
With the fintech’s entry into the East African country, it has already formed strategic partnerships with PesaLink, and Equity Bank Limited to transform cross-border money transfers.
This collaboration combines PesaLink’s instant payment infrastructure, NALA’s global fintech platform, and Equity Bank’s extensive network to deliver seamless, affordable, and transparent international transfers.
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For individuals, this partnership ensures that funds sent from abroad arrive instantly into bank accounts or mobile wallets. This speed and efficiency make it easier for families to plan their finances and meet everyday needs without delays.
Businesses and payroll providers also benefit from reliable payment rails for salary disbursements and supplier transactions. By reducing delays that often disrupt operations, companies can manage cash flow more effectively and strengthen their relationships with employees and partners.
This alliance marks a significant step toward boosting financial inclusion and supporting Kenya’s growing digital economy.
NALA’s expansion into Kenya is timely as the country in 2024, received a total of USD 4.95 billion (approximately KSh 640.8 billion) in diaspora remittances for the full year. This marked an 18% increase from USD 4.19 billion (KSh 542.4 billion) in 2023, with December 2024 recording a monthly high of USD 445.4 million. By June 2025, cash wired into the country by Kenyans in the diaspora had risen to $2.519 billion, up from $2.4 billion in the same period last year.
Notably, the expansion into Kenya comes after the fintech last month, launched its money transfer services in Bangladesh. The expansion marked the company’s first step into the South Asian market and reflects its broader mission to simplify international payments for diaspora communities.
Founded in 2018 by Benjamin Fernandes, NALA started as a mobile money app in Tanzania and has since grown into an international money transfer platform. The company is on a mission to reduce the cost and complexity of remittances, making payments faster, more transparent, and affordable.
NALA’s platform enables users in the UK, US, and 20 European countries to send money to African countries (e.g., Kenya, Nigeria, Uganda, Tanzania, and Rwanda. The app is mobile-first, offering low-cost, transparent, and fast transfers, even in areas with weak internet connectivity, using bank-grade security and multilayer authentication.
The platform’s B2B offering, Rafiki (Swahili for “friend”), is a cross-border payment infrastructure for businesses, enabling global trade with Africa by integrating with local banks and mobile money providers like M-Pesa in Kenya. This allows direct payments, such as utility bills, enhancing control for diaspora users.
Key Features of NALA Include:
1. Low-Cost International Transfers: NALA offers some of the lowest fees for sending money to Africa compared to traditional remittance services.
2. Instant Transfers: Money can be sent directly to bank accounts, mobile wallets (like M-Pesa), or other payout partners, often arriving instantly.
3. Global Reach: Currently, NALA supports payments from Europe, the UK, and the US to multiple African countries, including Kenya, Uganda, Tanzania, Ghana, Nigeria, and more.
4. Multi-Currency Payments: Users can send money in different currencies with real-time exchange rate transparency.
5. B2B Payments: NALA also provides infrastructure for businesses and payroll providers, helping companies pay suppliers or employees across borders reliably.
NALA has raised significant capital, including a $40 million Series A round in April 2024, one of the largest for an African cross-border payments company.
Backed by top investors, including Amplo, Bessemer Venture Partners, and DFS Lab, NALA is scaling rapidly to compete with giants like Western Union and WorldRemit.
By reducing costs and improving reliability, NALA empowers African migrants and businesses, aligning with the continent’s growing population and economic potential (projected 2.5 billion people by 2050).
The company is on a mission to make it easier and cheaper to move money into Africa, driving financial inclusion and improving the remittance experience for millions.