African FinTech that's expanding global reach and B2B offerings 🌍💸; India's WealthTech Boom 🚀🇮🇳

FinTech is Eating the World, 9 July

Hey Everyone,

Happy Tuesday! Today we’re going to look into African FinTech that’s expanding global reach and B2B offerings (the compounding success of Nala & what it’s all about + a bonus deep dive into Wise that should serve as a blueprint on how to scale remittance businesses), and India's WealthTech Boom (a quick recap of what’s happening & what can we expect in the near future). Let’s just jump straight into the cool stuff 🌶

African FinTech that’s expanding global reach and B2B offerings 🌍💸

The news 🗞️ Nala, an African remittance startup, has just secured $40 million in Series A funding. The round, led by Acrew Capital with participation from notable investors like DST Global and Norrsken22, follows a $10 million seed round in 2022.

This substantial investment comes after Nala achieved profitability, experiencing a tenfold increase in revenue and a 34-fold rise in transaction value 😳

Let’s take a quick look at this, see why it matters, and what’s next.