NALA, the Tanzanian fintech startup known for its African remittance services, has expanded to 19 additional European countries.
With this expansion, the company hopes to gain a sizable market share from the more than 11 million African migrants living in Europe. As it expands the usability of its platform, the company has recently added Apple Pay and Google Pay.
“Remittance companies have traditionally leaned on market expansion as a primary growth lever, causing them to pursue wider geographic reach rather than an added value to their product. At NALA, we are laser-focused on building the remittance company that Africans deserve.” Benjamin Fernandes, the founder and CEO of NALA.
The company began as a personal finance app in 2018, assisting Tanzanians and Ugandans with their financial well-being before evolving into a money transfer app for the African diaspora. It is currently available in Tanzania, Uganda, Kenya, Rwanda, and Ghana, with plans to expand into Nigeria and Ethiopia. Over the last six months, the company claims to have assisted over 8,000 customers in transacting in excess of eight figures to Africa.
“The European economy is the third largest in the world and home to more than a quarter of African migrants. At NALA, our mission is to financially empower Africans across the world,” Fernandes added.
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