Business Wire India
LaLa World, an Asian Blockchain-based social business, announced the acquisition of UK based remittance company First Mobile Money Limited (FMML) today. This move is a part of its strategy to create a simplified financial services ecosystem that provides remittance services to the UK’s migrant workforce, refugees, and the unbanked, as well as, partner with other remittance companies in the UAE (United Arab Emirates) and the CIS (Commonwealth of Independent States).
LaLa World’s FMML’s acquisition of FMML is a part of its planned expansionary roadmap to drive greater adoption of its services through global partnerships. The strategy also includes leveraging existing infrastructure, engaging corporate houses, NGOs, governments, local companies, and distributors to improve the options available to the 9.5MM migrant workforce that resides in the UK.
“International remittance is one of the biggest pain-points for international workers everywhere. LaLa World is developing a user-centric financial ecosystem that enables faster and cheaper money transfers the world over. With the acquisition of First Mobile Money Limited, we are moving closer towards our goal of global financial inclusion and becoming the go-to financial services providers for those who do not have access to banking services,” said Sankalp Shangari, Founder and CEO of LaLa World.
The Blockchain-based financial ecosystem will be a one-stop solution with a digital wallet that provides a globally verifiable identity for improved access to payments, credit, lending, and other financial services with a clear focus on financial inclusion
Founded in 2016 & headquartered in Singapore, LaLa is an established and fast-growing Asian technology company using Blockchain & AI. LaLa supports FIAT and other Blockchain protocols like Stellar & Ripple to create a comprehensive financial ecosystem for those historically left unbanked, such as the migrant workforce and the refugees, apart from the underprivileged. Its vision is to reach 100 million users by 2021 and enhance the scope of financial services accessible to the general public.