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The platform allows payments from the U.K. to Tanzania, Kenya, Uganda, Rwanda and Ghana. And in the past six months, more than 8,000 customers have moved over $10 million in transaction volume to Africa, the company said.“Our core customer base is the diaspora right now who live in the U.K. The company has hired Subuola Abraham, ex-Citi U.K. MLRO and former group chief compliance officer at pan-African bank Guaranty Trust Bank, to lead its compliance efforts. Sheel Tyle, the founder and general partner at Amplo, will join NALA’s board, the company said in a statement. NALA, a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. But in 2020, NALA started testing international money transfers after some users expressed interest in moving money from the U.K. to East African countries (Kenya, Uganda and Tanzania), thus ushering the Tanzanian fintech into the remittance business. According to Fernandes, NALA has more offerings in its pipeline that can be likened to Revolut’s when it first launched in the U.K. NALA also received funds from an impressive group of angel investors — Jonas Templestein, co-founder and CTO of Monzo; Vladimir Tenev, Robinhood co-founder and CEO; Deel founder Alex Bouaziz; Laura Spiekerman, co-founder of Alloy; Peeyush Ranjan, the head of Google Payments and early employees at Revolut and TransferWise.
