Tether-Backed Global Fintech Innovator Raises $10M to Expand Stablecoin Payments

MANSA, the cross-border payment wizards, just hit the jackpot with a cool $10 million in fresh funding. The round was led by Tether, the issuer of the USDT stablecoin, which previously spearheaded MANSA’s $3 million pre-seed funding. This cash infusion is all about turbocharging MANSA’s mission to take their slick payment solutions global. Because, let’s face it, the world could use a little less friction when it comes to moving money across borders.

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The pre-seed round included co-leadership from Polymorphic Capital and contributions from Octerra Capital, Faculty Group, and Trive Digital. Additionally, MANSA has secured $7 million in liquidity funding from a group of institutional investors. The company specializes in providing onchain liquidity solutions employing USDT stablecoin to enhance the speed and accessibility of cross-border payments for businesses.

Paolo Ardoino, Tether’s CEO, is all in on MANSA’s vision. “They’re tackling the liquidity nightmares that plague cross-border payments,” he says, “and that’s totally in line with our mission to make finance more efficient and inclusive.” Translation: MANSA’s got the tech to make payments as smooth as butter, especially in emerging markets where the current system is efficient.

Founded by Mouloukou Sanoh and Nkiru Uwaje, MANSA is a dream team of traditional finance, payments, and Web3 expertise. These folks aren’t just building a company—they’re building the future of how money moves. Since their August 2024 launch, they’ve been on a roll, partnering with payment giants across Africa, Asia, and South America. The result? A jaw-dropping $27 million in transaction volume, with nearly $11 million of that happening on-chain in January alone. That’s a 574% growth spurt since their debut.

So, what’s next for MANSA? With their shiny new funding, they’re setting their sights on Latin America and Southeast Asia. By scaling their liquidity infrastructure and forging strategic partnerships, MANSA plans to bring faster, cheaper payments to these markets. Because let’s be real, nobody likes waiting days for their money to show up or paying an arm and a leg in fees.

At its core, MANSA is all about financial inclusion and innovation. They’re on a mission to fix the global liquidity crunch and make cross-border payments as easy as sending a text. And with the cross-border payments market projected to hit a mind-blowing $290.2 trillion by 2030, the stakes are high. Without solutions like MANSA’s, businesses could lose billions to inefficiencies.

Here’s what it means for you:

1. MANSA’s platform could offer you faster, cheaper, and more efficient cross-border payments. Their focus on emerging markets is particularly relevant if you do business in those regions. Keep an eye on their expansion into Latin America and Southeast Asia, as this might open up new avenues for your transactions.
2. MANSA’s success and the support from Tether signal a growing trend in using stablecoins and blockchain technology to improve cross-border payments. This is a space to watch for innovation and disruption. The significant transaction volume MANSA has already processed demonstrates the real-world demand for these types of solutions.
3. MANSA’s rapid growth and substantial funding rounds suggest a promising investment opportunity. Their focus on a large and growing market (cross-border payments) further strengthens their potential. However, as with any investment, it’s crucial to do your own research and assess the risks involved.

Source; TechCrunch, TechAfrica News, Investing.com.

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