Tanzanian fintech NALA has secured a credit facility of up to $50 million from Mars Growth Capital, with an initial $25 million tranche immediately available. The goal: deploy a stablecoin-powered cross-border payment infrastructure across 16 African and Asian countries.
Stablecoins to Cut Transfer Costs
NALA connects 249 banks and 26 mobile payment services across 16 countries in Africa and Asia. By integrating stablecoins — crypto-assets pegged to stable currencies like the dollar — into its infrastructure, the company aims to bypass high foreign exchange costs and settlement delays that penalize cross-border transfers in Africa.
CEO Benjamin Fernandes explained the financing addresses «liquidity needs» tied to the platform's rapid growth. The facility can scale to $50 million based on performance, per the terms with Mars Growth Capital.
From Diaspora App to Continental B2B
Founded in 2017 as a diaspora remittance service, NALA pivoted to B2B payments via its Rafiki platform, targeting large enterprises operating between Africa, Europe, and the US. This positions it in a cross-border payments market worth hundreds of billions annually.
The NALA raise reflects a broader trend: African fintechs captured $556 million out of $1.37 billion raised across African tech in H1 2026 — 41% of the total (source: TechNext24).
Why It Matters
For Indian Ocean businesses trading with continental Africa, the rise of payment infrastructure like NALA is excellent news. Payment corridors between Réunion, Mauritius, Madagascar, and East Africa remain costly and slow. Stablecoin solutions could substantially reduce transaction costs for regional SMEs and traders.