On Thursday, MANSA, a fintech company focused on cross-border payments, announced the successful completion of a $10 million funding round led by Tether, the issuer of the USDT stablecoin.
This funding aims to address liquidity challenges faced by payment providers, particularly in emerging markets.
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Funding led by Tether to solve liquidity challenges
The funding round included $3 million from a pre-seed investment co-led by Tether and Polymorphic Capital, with additional contributions from Octerra Capital, Faculty Group, and Trive Digital.
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The remaining $7 million was secured as liquidity financing from various institutional investors. MANSA plans to use these funds to expand its operations into Latin America and Southeast Asia, which are known for their liquidity issues in cross-border transactions.
Mouloukou Sanoh, CEO and Co-Founder of MANSA expressed enthusiasm about the funding: “Securing $10 million in pre-seed and liquidity funding marks a significant milestone in our mission to transform the way money moves.
By bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing challenges in cross-border transactions—making payments faster, cheaper, and more reliable worldwide”.
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Innovative solutions to solve liquidity challenges
MANSA’s platform utilises stablecoins to provide instant liquidity for payment companies. This approach allows businesses to settle transactions quickly and efficiently, reducing operational costs associated with traditional fiat methods.
Sanoh emphasised the importance of on-chain liquidity for instant settlements: “Payments are moving on chain, but in order for payments to move on chain you need to have the on-chain liquidity to be able to settle instantly”.
Since its launch in August 2024, MANSA has processed over $27 million in transactions. To extend its reach, the company is focused on creating partnerships with payment providers across Africa, Asia, and South America.
The newly acquired funds will enhance MANSA’s liquidity infrastructure and support its goal of providing seamless payment solutions globally.
Paolo Ardoino, CEO of Tether, highlighted the alignment between Tether’s mission and MANSA’s objectives: “MANSA’s vision for addressing liquidity challenges in cross-border payments aligns with our mission to create a more efficient and inclusive financial system”.