NALA Banks $50M in Credit Financing for Global Expansion
African payments company NALA has secured a $50 million credit facility from Liquidity, through its joint venture with MUFG Bank Ltd. (Mars Growth Capital), to support its global expansion and neobank development.
The non-dilutive financing will enable NALA to pre-fund customer accounts, expand into new markets, and accelerate the build-out of its next-generation payments infrastructure—all powered by its stablecoin technology.
Rapid Growth Fuels Demand for Capital
Benjamin Fernandes, founder and CEO of NALA, explained that the company’s rapid growth previously created operational challenges. “We were growing faster than we could handle pre-funding,” he said. “Liquidity came in quickly with a tailored capital solution that provides the cash flow required to support our next phase.”
Key Highlights:
- The facility includes an initial $25 million tranche with a scale-up option of at least $50 million
- NALA previously raised $40 million in funding last year
- In 2023, the company expanded to 19 new countries in the EU
- NALA enables secure payments from Europe, UK, and US to Tanzania, Kenya, Rwanda, Uganda, and Ghana
Strategic Implications for African Fintech
The investment underscores growing investor confidence in African fintech solutions that address critical cross-border payment needs. As companies like NALA demonstrate the potential to connect diaspora communities with their home countries through digital channels, we can expect continued interest in this sector.
Paul Brodie, global head of investments at Liquidity, noted that the team conducted extensive due diligence on NALA’s stablecoin rails and real-time payment capabilities before structuring the facility.