Dubai-based fintech startup MANSA has raised $10 million in funding to address liquidity challenges in cross-border payments, with stablecoin provider Tether leading a $3 million equity investment.
The financing round, which includes both equity and debt, was co-led by Polymorphic Capital with participation from other investors, including Octerra Capital, Faculty Group, and Trive Digital.
The funding will enable the company to expand its operations into Latin America and Southeast Asia, regions facing similar liquidity issues.
MANSA focuses on improving cash flow for payment providers by offering real-time liquidity solutions. Instead of traditional lending methods that require collateral, the company underwrites loans using transaction data, providing a more flexible and efficient approach.
“Our partnership with Tether is so consequential and why we’re working very closely together to make it the primary stablecoin in emerging markets,” said MANSA’s CEO, Mouloukou Sanoh.
Founded by Sanoh and Nkiru Uwaje, MANSA has quickly grown in the payments sector. Sanoh, an experienced investor in African fintechs, previously worked at web3 VC firm Adaverse, while Uwaje was formerly an innovation manager at SWIFT and led blockchain strategy for Dell in the UK and Ireland.
The startup’s model is particularly relevant in emerging markets where payment providers often struggle with liquidity shortages, leading to delayed transactions and increased costs.
According to MANSA, cross-border payments are projected to reach $290.2 trillion annually by 2030, and inefficiencies in the system could result in huge financial losses for businesses.
Beyond Africa, where MANSA has been primarily active, the company is now targeting Latin America and Southeast Asia, aiming to provide the same liquidity solutions to businesses facing similar challenges.
To support this expansion, it has secured $7 million in liquidity funding from institutions, including corporate investors, quantitative funds, and hedge funds.
MANSA reports strong growth since its launch in August 2024. The company’s transaction volume surged from $1.6 million in its first month to $11 million in January 2025, with a compounded monthly growth rate of 37.5%.
So far, MANSA has processed nearly $31 million in transactions and expects to reach a $1 billion total payment volume run rate this year.
Tether CEO Paolo Ardoino stated that the stablecoin provider is “proud to collaborate with MANSA and support their efforts to reshape global payment infrastructure.”
In addition to its liquidity solutions, MANSA is investing in regulatory compliance. The company has brought on industry veterans, including the former head of HSBC North Asia and the chief legal officer of Franklin Templeton, to strengthen its oversight.
MANSA’s compliance measures include AML checks, sanction screening, KYC, KYB, transaction monitoring, and blockchain analytics tools.
Moving forward, the company plans to expand beyond liquidity provision. “We’re starting by being the primary liquidity provider to the biggest payment companies across emerging markets,” Sanoh explained.
“From there, we can handle payouts and also offer additional services like foreign exchange. The goal is to create a one-stop payment platform where they can finance their payments, settle transactions instantly, and access foreign currency seamlessly—all in one place.”
With a growing client base that includes B2B payment platforms, virtual card providers, stablecoin infrastructure companies, forex platforms, and remittance firms, MANSA’s impact on the global payments landscape is expected to deepen.
The company claims that clients using its solutions have already seen a 30% increase in transaction volumes and a 10% boost in revenue.
Vitaly Spassky, managing partner, Polymorphic Capital, said Mansa is here to disrupt a massive traditional market with blockchain and the Web3 paradigm. “Polymorphic supports extraordinary founders. The Mansa team is up to this incredible challenge.”
Ashim Egunjobi, managing partner, Octerra Capital, also stated: “We invested in MANSA because of their bold, diverse, high-calibre team of visionary founders addressing critical challenges faced by payments companies in Emerging Markets. We firmly believe that decentralized finance and asset tokenization are game-changing frontier technologies. With immense market potential in emerging economies, MANSA is uniquely positioned to drive transformative impact and bridge the credit gap across Africa.”
“We are incredibly excited to have been the first investor in Mansa. Our decision to invest was driven primarily by our strong confidence in the leadership team, and we are certain they will continue to validate our belief. Additionally, we are thrilled about the future of crypto payments and Mansa’s potential to make transactions in emerging markets faster, cheaper, and more efficient,” Sebastian Cheek, head of Investment, Faculty Group
Shawn Tan, general partner, TRIVE Digital, commented that MANSA addresses a fundamental liquidity challenge in cross-border payments, leveraging stablecoins to create more efficient and accessible financial rails. “TRIVE Digital backs visionary founders building the future of Web3, and we are excited to support the MANSA team as they drive transformative impact in the global payments industry.”
