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MANSA, a cross-border payment services firm, announced the completion of a $10 million financing round. The round was led by Tether, the issuer of the USDT stablecoin, which previously spearheaded MANSA’s $3 million pre-seed funding. This investment aims to accelerate MANSA’s global expansion efforts.
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, CEO of Tether, expressed support for MANSA’s objectives, stating, "MANSA’s vision for addressing liquidity challenges in cross-border payments aligns with our mission to create a more efficient and inclusive financial system." Ardoino highlighted the benefits of using USDT for real-time settlements and instant payouts, particularly in emerging markets where payment companies often encounter significant hurdles.
MANSA intends to use the newly acquired funds to expand its operations into Latin America and Southeast Asia. These regions are known for facing liquidity issues in cross-border transactions, and MANSA’s entry could potentially offer much-needed solutions.
Since its launch in August 2024, MANSA has concentrated on forging partnerships with payment companies across Africa, Asia, and South America. The company has facilitated approximately $31 million in transaction volume on its platform, as reported by Dune Analytics. This latest funding round represents a significant milestone for MANSA as it continues to grow and address the challenges of international payments.
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