NALA is reportedly accelerating its fintech business to process electronic payment beyond its domestic gateway in Tanzania. NALA intends to inject the $10m Seed into its brand to develop past its current startup status quo.
NALA has been targeting the international fintech marketplace since the previous pre-seed deal rounded up with millions of dollars. The Tanzania fintech startup gained egocentric value to innovate processing cross-border payment.
At the time NALA’s pre-seed deal closed in 2019, the Caucasian venture capitalist, Accel, was obligated to accelerate NALA’s lucrative development via strategic management consulting solutions drafted by the Accel development team organised like a startup accelerator.
The venture capitalist led NALA’s pre-seed round the fintech company raised three years ago. This clarifies why Accel is obliged to aid NALA with advisory service — coaching the fintech startup company towards attaining the global limelight.
Accel’s intervention helped NALA develop its mobile money app the fintech company debuted after the 2019 pre-seed round. NALA’s mobile app offers cross-border payment which also attracted more Africans and foreigners to embrace NALA’s payment gateway.
NALA set to introduce foreigners to the cross-border payment system it digitised preferred to users discretion. NALA grants interest that is exclusive to foreign exchange transactions. It is a no-brainer Accel’s strategic schemes have rubbed off on NALA mode of service — its flexible payment services preferential to the foreign remittance marketplace.
NALA commenced introducing its Tanzanian model of cross-border payment to the world during the post-pandemic era. NALA crossed borders towards landing in the foreign fintech marketplace per users’ requests from its feedback community.
NALA’s potential users’ based overseas have experienced a glimpse of its electronic payment system since last year. The $10m deal will accelerate NALA’s current project by an 80% surplus in YoY revenue growth.
NALA stationed a major office in Europe as the vital link to swerve into the foreign exchange and remittance marketplace. Still, the eastern part of Africa is the highest fraction of NALA’s user population. NALA also targets the commercial zone of Africa, Nigeria, to operate soluble cross-border payment.