According to BlockBeats, Tanzanian fintech startup Nala has successfully raised $40 million in a Series A funding round. The round was led by Acrew Capital, with participation from DST Global, Norrsken22, and HOF Capital. The funds raised will be used to strengthen Nala's B2B payment platform and support its overall development plan.
Nala launched its B2B product in March this year, primarily targeting businesses making payments to Africa and regions outside of Africa. The successful funding round marks a significant milestone for the company as it seeks to expand its services and reach a wider market. The investment will provide the necessary capital to enhance the B2B payment platform, ensuring it can meet the needs of its growing customer base.
The participation of notable investors such as Acrew Capital, DST Global, Norrsken22, and HOF Capital in the funding round underscores the potential they see in Nala's business model and the broader African fintech market. As the company continues to grow and develop its platform, it is expected to play a significant role in shaping the future of B2B payments in Africa and beyond.