PC: LinkedIn
Mansa, the Dubai-based cross-border payments platform, has raised a total of $10 million to beef up its liquidity solutions and to expand into new markets.
The funding was structured in two rounds. The first was a $3 million pre-seed investment, with lead from Tether and co-lead from Polymorphic Capital. Other noteworthy contributors in such a round included Octerra Capital, Faculty Group, and Trive Digital.
Additionally, $7 million in liquidity funding was raised through various entities. These include corporate investors, quantitative funds, and alternative asset firms. This funding will allow Mansa to increase operational capacity and will expand its reach within the payments industry.
Established by Mouloukou Sanoh and Nkiru Uwaje, Mansa is a global fintech undertaking. Doing a liquidity solution for cross-border transactions using stable coins, the firm has created an innovative on-chain liquidity solution making it possible for payment providers to facilitate international transactions quickly. It allows people and businesses to transact seamlessly, allowing funds to move freely within their businesses.
By virtue of its launch on August 2, Mansa has grown tremendously into the fintech space, signing key partnership deals with large payment companies on the African, Asian, and South American continents. Their expansion is covered under a recent round of immediately liquid arrangements totaling $27 million in transactions. Most impressively, that broke through in January with an on-chain transaction volume of about $11 million, putting it at 574% growth compared with launch volumes during August.
Mansa hopes to put this new financing to extend its strategic investments towards international markets, mainly focused on Latin America and Southeast Asia. With this funding, the company plans to leverage its position in the financial technology space through its liquidity infrastructure and long-lasting partnerships with other key industry players. These efforts combined will avail the company to assume the next level of growth while cementing its competitive positioning and ensuring a much stronger and more pronounced global presence in the financial systems. These strategies are meant for delivering sustainable growth in marketable ways, deepening their reach, and front-row opportunities in innovating the fintech sector.
In a fast-growing and fluid company, this development again demonstrates Dubai as one of the world’s contemporary hubs for fintech. The city’s nascent financial ecosystem with its geographic strategic positioning thus, makes it a hotbed of choice for any fintech attempting to get international strategies. Mansa is improving its payment solutions and is perfectly poised for better operations in cross-border payments. Based on a solid foundation of innovation, Mansa is set to transform the story of large-scale digital payments.
