NALA

NALA offers a multi-currency account and money transfer app that lets users receive, hold, convert and send money across borders. Its Rafiki API lets global businesses make payments into Africa, with payouts, collections and settlement in local currency or stablecoins. The website states that user funds are held in US dollar-backed stablecoin.

Consumers in the UK, US and EU send money through the app, and businesses integrate the Rafiki API. The site describes real-time FX rates and no hidden fees, but does not break down the revenue model. In the US, services are provided by NALA Payments LLC (NMLS 2530895) or affiliated entities; the company says it obtains licences through government partnerships.

The company states it began in Africa in 2021 and has expanded to Asia. Its site lists offices in Hoboken (US), Amsterdam (NL) and London (GB), and says the team spans 18 countries with hubs in London, Nairobi and Dakar. Its open roles are senior platform, backend and analytics engineering positions in London. The site says it is backed by angels and reports 1M+ users across 35+ countries.

Product: Consumer multi-currency account and cross-border money transfer app, plus the Rafiki API for business payouts and collections into Africa.