Nala
NALA is a cross-border payments fintech operating a global multi-currency mobile wallet and remittance app for the African and Asian diaspora across 35+ countries, paired with a B2B payments API (Rafiki) used by fintechs and money transfer operators including MoneyGram and TransferGo.
- Company typePrivate
- Founded2017
- HeadquartersHoboken, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingSoftware
What Nala does
NALA is a cross-border payments fintech founded in 2017 and headquartered in Hoboken, New Jersey, with operational roots in Tanzania and offices in London, Amsterdam, Nairobi, Toronto, and Dar es Salaam. The company operates a global multi-currency mobile wallet and remittance application serving the African and Asian diaspora, enabling users in 21 sender countries (UK, US, and 19 EU markets) to send funds to recipients in 16+ countries across Africa and Asia. The consumer platform reports 1M+ users across 35+ countries, a 4.8 average app store rating, and 98% of transfers arriving within 10 minutes. A B2B payments API called Rafiki exposes the same infrastructure to other fintechs and money transfer operators, with named integrations including MoneyGram, TransferGo, dLocal, Cadana, Mama Money, Levl, TerraPay, and TapTap Send.
The underlying technology combines a consumer mobile app with a programmable B2B payments API. Settlement is powered by USDC stablecoin reserves, with local-currency rails delivered through licensed partners including Modulr (UK/EU), Lead Bank (US), and direct integration into NIBSS (Nigeria). NALA holds 17 regulatory approvals globally, including FCA authorization via Modulr FS Limited, FinCEN MSB registration and NMLS money transmitter licenses (US), DNB authorization via Modulr Finance B.V. (EU), FINTRAC registration (Canada), CBN IMTO license (Nigeria), Bank of Ghana Letter of No Objection, and a National Bank of Rwanda license. Virtual account products in KES, TZS, UGX, RWF, EUR, GBP, USD, and USDC expand the consumer product surface from one-off remittances into a persistent multi-currency account.
NALA monetizes through transaction fees on consumer remittances, B2B API volume on Rafiki, and FX margin on currency conversion. Reported gross profit margins are 64% on the consumer business and 80% on the Rafiki B2B platform, with profitability confirmed at Money20/20 in October 2024 following 10x revenue growth in the prior 12 months. The company raised a $40M Series A in July 2024 led by Acrew Capital and DST Global and secured a $50M debt facility in May 2026 from MUFG-backed Mars Growth Capital to scale global payments infrastructure and stablecoin-powered corridors.
Nala firmographics
Firmographics- Name
- Nala
- Legal name
- NALA INC
- Website
- https://nala.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- NALA is a cross-border payments fintech operating a global multi-currency mobile wallet and remittance app for the African and Asian diaspora across 35+ countries, paired with a B2B payments API (Rafiki) used by fintechs and money transfer operators including MoneyGram and TransferGo.
- Ownership category
- akta.pro rank
Nala industry classification
Industry- Product category
- Cross-Border Payments
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Commercial Banking (52211)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH)
- akta.pro secondary industries
- Cross-Border & FX Payments Platforms (BPAMAFAK), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
Keywords
Where Nala is headquartered
LocationHeadquarters
- HQ city
- Hoboken
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Nala business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others, Infrastructure
Revenue model
- Consumer Cross-Border Remittance Fees: NALA charges transaction fees on consumer money transfers from 21 sender countries (UK, US, EU) to 16+ receiver countries in Africa and Asia, with flat per-transaction fees and FX margin on currency conversion. Consumer business gross profit margin reported at 64%.
- Rafiki B2B API Platform Revenue: B2B revenue from the Rafiki API providing payouts, collections, FX, and stablecoin settlement to other fintechs and money transfer operators. B2B platform Rafiki gross profit margin reported at 80%.
- Foreign Exchange Spread: NALA charges a fixed mark-up on the foreign exchange rate for cross border payments in addition to a flat per-transaction fee based on volume; FX rates are disclosed before each transfer.
- USD Global Account Services: NALA offers USD Global Accounts enabling users to receive, hold, and convert USD, generating transaction-based and FX-based revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Consumer remittance transfers |
| Transaction based/ take rate | Pay-as-you-go | Rafiki B2B API |
Go-to-market motion5 records
Distribution channels6 records
Marketing channels8 records
Nala product offering
Product offeringCore offering
NALA operates a global cross-border payments platform built around two products: a consumer mobile app that lets individuals send, receive, hold, and convert money across 35+ countries using a single multi-currency account, and the Rafiki B2B API that exposes the same payout, collection, FX, and stablecoin settlement rails to partner fintechs and money transfer operators. Customer funds are held against USDC reserves and settlement is delivered in seconds to minutes into local bank accounts and mobile money wallets across Africa and Asia.
Product overview
NALA operates a fintech platform built around two primary pillars: the NALA consumer app and the Rafiki B2B API. The NALA consumer app is the unified, multi-currency remittance product that lets users send, receive, hold, and convert money across 35+ countries, with built-in support for bank accounts and mobile money wallets in markets across Africa, Asia, Europe, and North America. Layered on top of the consumer app are virtual account products — Virtual KES, Virtual TZS, Virtual UGX, and Virtual RWF — alongside USD Global Accounts, which let users hold balances in multiple currencies including USDC. Companion features such as NALA Friends add P2P transfer capability inside the app. The second pillar, Rafiki, is an enterprise B2B API that lets partner businesses move money globally with local-currency or stablecoin settlement, exposing the same rails that power the consumer app. Together, the consumer app and Rafiki API form NALA's "Payments for the Next Billion" platform.
Differentiator
Problem solved
Functional benefit
Brands
- Rafiki: B2B cross-border payments API/platform by NALA enabling payouts, collections and settlement in local currency or stablecoins across the US, UK, Europe, Asia and Africa.
Products and services
- NALA Consumer App Global multi-currency mobile money transfer application enabling consumers across 35+ countries to receive, hold, convert, and send money internationally, with built-in support for bank accounts and mobile money wallets across Africa, Asia, Europe, and North America.
- Rafiki API Enterprise B2B API that enables partner businesses to move money instantly across the US, UK, Europe, Asia, and Africa, with payouts, collections, and settlement in local currency or stablecoins through a single integration.
- USD Global Account US dollar-backed account product allowing users to hold USD and USDC balances within the NALA platform, with funds held in US dollar-backed stablecoin and protected by institutional-grade security.
- Virtual KES Account Virtual account enabling NALA users to store, send, receive, withdraw, and convert Kenyan Shillings (KES) through the NALA app, with KES funds managed by an institution licensed and regulated by the Central Bank of Kenya.
- Virtual TZS Account Virtual Tanzanian Shilling account service offered through the NALA app for holding and transacting in TZS.
- Virtual UGX Account Virtual Ugandan Shilling account service offered through the NALA app for holding and transacting in UGX.
- Virtual RWF Account Virtual Rwandan Franc account service offered through the NALA app for holding and transacting in RWF.
Companies that use Nala
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Nala technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature7 records
Nala partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered flagship and core.
- MoneyGramflagshipStrategic partnership to enable stablecoin-based settlement and modernized cross-border payout services across emerging markets in Africa and Asia. The collaboration introduces a real-time settlement model using digital dollars, with recipients continuing to receive funds in their local currencies, combining MoneyGram's global payments network with NALA's fintech capabilities.
- Central Bank of Nigeria (CBN) & NIBSSflagshipNALA secured an International Money Transfer Operator (IMTO) licence from the Central Bank of Nigeria along with direct integration into the Nigeria Inter-Bank Settlement System (NIBSS), enabling real-time cross-border payments directly into Nigerian bank accounts and mobile wallets.
- BigPaycoreStrategic partnership with locally licensed Ghanaian Payment Service Provider BigPay, following a Letter of No Objection from the Bank of Ghana, enabling NALA to offer regulated inbound cross-border remittance services directly into bank accounts and mobile money wallets in Ghana. Expected to serve as a template for future African expansion.
- Bank of GhanaflagshipIssued NALA a Letter of No Objection enabling the company to offer regulated inbound cross-border remittance services in Ghana, in partnership with locally licensed PSP BigPay.
- Modulr (Modulr FS Limited & Modulr Finance B.V.)flagshipLicensed e-money partner powering NALA's UK and EU account and payment services. NALA Payments Ltd is a registered EMD agent of Modulr FS Limited (FCA firm reference 900573) in the UK, and NALA Payments Netherlands B.V. partners with Modulr Finance B.V. (DNB reference R182870) in the EU. Modulr holds and safeguards customer funds in segregated accounts.
- Lead BankcoreUS banking partner of NALA's affiliate Mufasa Payments LLC (NMLS #635532), enabling NALA to offer electronic fund transfers and accounts to US customers.
- Sila Inc.coreUS financial services software partner that, together with Priority Commerce and Finxera, enables NALA Inc. and Nala Payments LLC to offer electronic fund transfers and accounts in the United States.
- Priority Technology Holdings (Priority Commerce / Finxera)coreUS payments technology partner providing infrastructure that enables NALA to offer electronic fund transfers and accounts to US customers (Finxera NMLS #1168701).
- Wells Fargo, N.A.; Comerica Bank; Axos Bank; Western Alliance BankcoreAuthorized US bank partners used by Sila, Priority Commerce and Finxera to provide account and electronic fund transfer services for NALA Inc. and NALA Payments LLC.
Scale indicators10 records
Recent moves9 records
Expansion highlights6 records
Nala competitors and assessment
Company assessmentDirect peers
- Remitly: Public cross-border remittance fintech serving diaspora senders from the US, UK, and EU to emerging markets, including many of the same Africa and Asia corridors NALA targets. Closest direct competitor on consumer remittance take-rate, speed, and app-led UX.
- WorldRemit: Global digital remittance operator with strong mobile-money payout coverage across Africa and Asia. Directly comparable to NALA on cross-border consumer remittance corridors and multi-currency wallet positioning.
- Wise (TransferWise): Multi-currency account and cross-border payments platform serving consumers and businesses. Comparable to NALA on multi-currency wallet, transparent FX, and B2B payments infrastructure, though with a much broader currency footprint.
- Sendwave: App-first remittance provider focused on African corridors from the US, UK, and Canada. Direct overlap with NALA's core diaspora-to-Africa value proposition and consumer-led GTM motion.
- Chipper Cash: Africa-focused cross-border payments and consumer fintech with strong mobile money and P2P presence. Overlaps with NALA on Africa-led remittance rails and emerging-market consumer fintech positioning.
- dLocal: Public emerging-markets payments platform offering local payment method coverage and payouts across Africa, Asia, and LatAm. Direct overlap with NALA's Rafiki B2B API on emerging-market payout and collection rails; also a Rafiki customer.
Broad incumbents
- Flutterwave: Africa-focused payments infrastructure provider serving enterprise and SMB customers with collection, payout, and FX capabilities. Comparable to NALA on the B2B emerging-market payments and FX opportunity, with a broader merchant focus.
- Western Union: Largest incumbent cross-border remittance operator with deep agent and payout networks in Africa and Asia. Competes with NALA on remittance corridor coverage and brand recognition among diaspora senders.
- MoneyGram: Global remittance and payments network with a large emerging-market payout footprint. NALA is a strategic partner of MoneyGram's stablecoin settlement initiative, but MoneyGram remains a broad incumbent with overlapping consumer and B2B remittance services.
Regional players
- M-Pesa (Safaricom / Vodacom): Dominant East African mobile money platform operating across Kenya, Tanzania, and neighboring markets. Highly relevant to NALA's last-mile mobile-money payout strategy in Africa, even though it is not a direct remittance competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Nala social profiles
Digital presenceNala compliance and trust
Trust signalCompliance12 records
Nala financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nala leadership team
Management profileNumber of profiles
Profiles3 records
Nala subsidiaries and ownership
Company hierarchySubsidiaries6 records
Nala funding detail
Funding detailFunding overview
Funding rounds6 records
Investors20 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nala M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nala
What does Nala do?
NALA operates a global cross-border payments platform built around two products: a consumer mobile app that lets individuals send, receive, hold, and convert money across 35+ countries using a single multi-currency account, and the Rafiki B2B API that exposes the same payout, collection, FX, and stablecoin settlement rails to partner fintechs and money transfer operators. Customer funds are held against USDC reserves and settlement is delivered in seconds to minutes into local bank accounts and mobile money wallets across Africa and Asia.
Is Nala a public or private company?
Nala is a private company. It is classified as venture growth investor backed and is currently operating.
When was Nala founded?
Nala was founded in 2017. It employs 51 to 100 people.
Where is Nala based?
Nala is headquartered in Hoboken, United States, in the North America region.
How does Nala make money?
Four revenue lines are on record. Consumer Cross-Border Remittance Fees are the primary driver. The others are rafiki B2B API Platform Revenue, foreign Exchange Spread and USD Global Account Services.
Who are Nala's main competitors?
Direct peers on record are Remitly, WorldRemit, Wise (TransferWise), Sendwave, Chipper Cash and dLocal. Broad incumbents are Flutterwave, Western Union and MoneyGram. M-Pesa (Safaricom / Vodacom) is listed as a regional player.
Does Nala have an API?
Yes. Rafiki is NALA's enterprise B2B API for global payouts and collections. Move money instantly across the US, UK, Europe, Asia and Africa. Payout, collect, and settle in local currency or stablecoins, all through one API. The API is positioned for partner/business use rather than a public consumer endpoint. Developer documentation is at www.rafiki-api.com.
What industry is Nala in?
Nala's product category is Cross-Border Payments. Its primary akta.pro industry code is FSAGAKAH, Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity), with a secondary code of BPAMAFAK, Cross-Border & FX Payments Platforms. Its NAICS code is 52232 and its SIC code is 6199.