Tanzanian-founded fintech company NALA has secured up to $50 million in credit financing to expand its stablecoin-powered payment network, marking a significant milestone for one of Africa's fastest-growing financial technology firms. The financing facility, announced on May 28, is expected to support the company's continued global expansion and strengthen its cross-border payment infrastructure connecting emerging markets with Europe and North America.
The funding arrangement begins with an initial $25 million facility and includes an option to scale to at least $50 million through Mars Growth Capital, a joint venture between private credit firm Liquidity and Japan's MUFG Bank. The capital will provide working funding for NALA's operations as demand for faster and more affordable international payments continues to grow.
Founded by Tanzanian entrepreneur Benjamin Fernandes, NALA started as a remittance platform serving Africans in the diaspora. Over the years, the company has evolved into a global payments infrastructure provider, offering services that enable businesses and individuals to transfer money across borders more efficiently.
The latest financing comes at a time when stablecoins digital assets designed to maintain a stable value are gaining traction as a solution for reducing the costs and delays associated with traditional international payment systems. Industry experts believe stablecoin-based payment rails could significantly improve financial connectivity between developed and emerging markets.
Speaking about the financing, Fernandes highlighted the rapid growth experienced by the company in recent years.
"The financing from Liquidity validates our vision of building the definitive stablecoin payments infrastructure for the long term, It provides the cash required for NALA to pre-fund customer accounts and unlock our next phase of growth."
Fernandes said in a statement released on May 28.
According to company officials, the new facility will allow NALA to pre-fund transfers, expand into additional payment corridors, and support larger enterprise clients that rely on the company's infrastructure for international collections and payouts. The strategy is expected to improve transaction speed while reducing settlement challenges commonly faced in cross-border payments.
NALA's enterprise payments platform, known as Rafiki, has played a major role in the company's growth. The platform connects more than 249 banks and 26 mobile money services across 16 countries, enabling businesses to send and receive payments through a single integrated network.
Financial analysts note that the financing reflects a broader trend among fintech companies processing large transaction volumes. Rather than raising new equity and diluting shareholder ownership, many firms are increasingly turning to credit facilities to finance liquidity-intensive operations. NALA stated that it still retains more than half of the capital raised during its $40 million equity round in 2024, allowing the new financing to be used primarily for growth initiatives.
Paul Brodie, Global Head of Investments at Liquidity, praised NALA's business model and growth trajectory.
"Our team structured a facility that accounts for NALA's compliant stablecoin rails, real-time cross-border payments, and rapid growth in emerging market corridors, We created a scalable facility that matches the sophistication of NALA's operations."
The announcement has attracted attention across Africa's startup ecosystem, with many observers viewing the deal as another example of African-founded companies securing significant international financing. The achievement is particularly notable for Tanzania's growing technology sector, which has produced an increasing number of innovative startups in recent years.
Technology analyst Grace Mbeki described the development as a positive signal for African entrepreneurship.
"NALA's success demonstrates that African-founded companies can compete globally while building solutions for real-world financial challenges," she said on May 29. "Investors are increasingly recognizing the potential of African fintech innovation."
As demand for faster and more reliable international payments continues to rise, NALA's latest financing is expected to strengthen its position within the rapidly expanding digital payments industry. For Tanzania and the broader African technology ecosystem, the milestone represents another step toward greater participation in the global digital economy.