Nala
Nala (branded NALA) is a financial technology company offering international transfers and multi-currency accounts from the UK, US and EU to dozens of countries, with a strong focus on African corridors. Its B2B rail, Rafiki, exposes payouts and collections via API.1
History
Nala grew as a remittance-first consumer app and later productised its payment infrastructure for other businesses. Partner banks and e-money institutions hold funds depending on market.
Founders
Benjamin Fernandes is the founder and chief executive officer of Nala (NALA), a cross-border payments and multi-currency fintech focused on corridors into Africa and other emerging markets. A Tanzanian entrepreneur with degrees including a Harvard background and a Stanford MBA, Fernandes is a Y Combinator alumnus who has spoken publicly about applying to YC multiple times before breaking through.
Fernandes built Nala from a consumer remittance app into a broader payments infrastructure company—including B2B rails under the Rafiki brand—for businesses sending into emerging markets, with growing use of stablecoin settlement. Backed by investors such as Accel and DST Global, he positions Nala as payments infrastructure for "the next billion" users underserved by correspondent banking.
Reception
Nala is recognised for African remittance corridors and emerging-market payout infrastructure (including Rafiki APIs). Stablecoin settlement and multi-jurisdiction licensing are central to its growth story.
Products
Consumer send/hold/convert accounts, fast payouts to banks and mobile money, and Rafiki APIs for global businesses paying into emerging markets, including stablecoin settlement options.
References
- Nala provides money-transfer and account services with licensed partners by jurisdiction; it is not itself a full-service retail bank in all markets.
Frequently asked questions
- What is Nala?
- Nala is a cross-border payments and multi-currency account fintech focused on corridors into Africa and beyond.
- When was Nala founded?
- Nala was founded in 2019.
- Where is Nala headquartered?
- Nala is headquartered in London, United Kingdom.
- Who founded Nala?
- Nala was founded by Benjamin Fernandes.
- What type of company is Nala?
- Nala is described as Partner-bank / payments fintech in its neobank.wiki profile.
See also
- Airwallex — Airwallex is an Australian-founded business fintech for global accounts, payments and spend management.
- Alex Johnson — Alex Johnson is the founder of Fintech Takes, a widely read fintech newsletter and podcast; he is active on X as @AlexH_Johnson.
- Alexandre Prot — Alexandre Prot is co-founder and CEO of Qonto, the Paris-based European business neobank.
- Ali Niknam — Ali Niknam is founder and CEO of Bunq, the Amsterdam-based licensed Dutch neobank.
- Ally Bank — Ally Bank is a large U.S. online bank offering deposits, loans and investment products without branches.