TechCabal says that NALA, a Tanzanian fintech company, has expanded into the European market. This means that NALA can now operate in 19 European countries and allow remittances from those countries to African countries.
This extension follows numerous additional enhancements to NALA’s product, including the incorporation of ApplePay and Google Pay into its offerings to allow payments from the United States and the United Kingdom to Africa.
NALA has a strong presence in markets like Tanzania, Uganda, Ghana, Kenya, Rwanda, the UK, and the US. By expanding into the European market, the company will be able to join the lucrative international remittance market. It also gives the more than 11 million Africans who live in Europe more ways to send money back home.
Nala is now part of a group of African-born fintech companies that have expanded into Europe and offer remittance services to Africans in the diaspora. These include Nigerian software company Bluechip Technologies, which expanded into Europe in August of this year.