A competitor of LemFi that is expanding its services beyond remittances into payment solutions.
African Startup Funding Remains Concentrated as Four Deals Account for Most of May 2026 Capital
Nala secured a $50 million credit facility in May 2026. LemFi raised $30 million through a Series B extension.
Nala secures $50 million credit line to expand stablecoin payment network
Nala secured up to $50 million in credit financing from Liquidity to enhance cross-border payment services. The financing begins with an initial $25 million tranche and can scale to $50 million or more.
Proposed US tax raises alarm for African remittance startups
A US bill proposes a 5% tax on remittances sent by non-citizens, affecting African fintech startups. The legislation requires money transfer operators to verify the immigration status of senders.
Visa-backed African unicorn Moniepoint tackles remittances. But is it late to the game?
Visa invested in Nigerian fintech Moniepoint, validating its status as a unicorn and signaling a new direction. Moniepoint launched MonieWorld, targeting the UK-Nigeria corridor for diaspora-focused financial services.
Fintech Companies Aim to Slash High Remittance Costs for Sub-Saharan Africa
In 2023, remittances to sub-Saharan Africa were valued at $54 billion. Remittances account for over a fifth of GDP in The Gambia, Lesotho, and Comoros.
