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Y-Combinator-backed East African fintech Nala launches in the UK

Y-Combinator-backed East African fintech Nala launches in the UK
By Daniel Lanyon on Friday 15 January 2021
Image source: Photo by Anete Lusina from Pexels
Tanzanian startup Nala is launching a new money transfer app in the UK in early 2021 to help the East African diaspora in the UK send money to Kenya, Uganda and Tanzania.
The YC backed company recently gained approval from UK financial regulator the FCA. It already has 250,000 customers across East Africa.
Nala is backed by well-known venture capital firms Accel’s and Y-Combinator.
“Our mission is to increase economic opportunity for Africans worldwide and we believe that remittances are one of the best forms of economic development” the firm said in a media statement. ....

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