Nala, a Tanzania-based cross-border payments fintech backed by Accel Partners, is seeking to raise $120 million by selling a 10%-15% equity stake after previously securing $40 million in Series A funding. The company, which recently became profitable, has expanded its operations beyond Africa and is developing a B2B payments platform. With Africa’s fintech sector projected to reach $47 billion by 2028, Nala is positioning itself as a key player in remittances and digital payments, with its largest corridor being the U.S., followed by the U.K. and EU.
Accel-Backed Fintech Startup Eyes $120 Million in Next Round
