NALA, a financial technology company, founded by Tanzanian entrepreneur Benjamin Fernandes has secured up to $50 million in credit financing from private credit provider Liquidity, marking a strategic pivot in how African startups fund rapid international expansion amid tightening venture capital markets.

The facility begins with an initial $25 million commitment, expandable to at least $50 million through Mars Growth Capital, a joint venture between Liquidity and MUFG Bank Ltd. The structure underscores a growing shift toward debt-based financing as fintech companies prioritize capital efficiency over equity dilution.

The funding arrives at a critical stage of expansion into stablecoin-powered cross-border payments, as demand rises from enterprises seeking faster and lower-cost settlement rails between developed and emerging markets.

Scaling stablecoin payment infrastructure

According to the company, new capital will be deployed to pre-fund customer accounts, a key operational requirement in cross-border payments, while also expanding its payment corridors across high-growth remittance routes.

NALA has recently seen accelerating demand from enterprise clients integrating digital asset-based payment systems. The company expects several large contracts to go live later this year, increasing liquidity pressure across its network.

“At some point our business was more than doubling every other quarter,” said founder and CEO Benjamin Fernandes. “We grew faster than we could handle pre-funding for single-direction payments. Liquidity came in quickly and was highly flexible. Their tailored capital is a lifeline for us.”

From African remittance startup to global infrastructure player

Founded in 2017 by Tanzanian entrepreneur Benjamin Fernandes, NALA initially built its reputation through a remittance platform serving African diaspora users sending money home.

Under the leadership of Fernandes, a former television presenter in Tanzania who previously worked with The Bill & Melinda Gates Foundation in the United States within its digital and financial services teams before launching NALA. The company has since expanded into enterprise financial infrastructure through Rafiki, its business-focused payments platform.

NALA’s ecosystem now connects more than 200 banks and over 25 mobile money operators across more than 15 countries, enabling businesses and consumers to move money seamlessly across borders.

The latest financing signals growing investor confidence in African fintech firms building payment infrastructure tied to stablecoins and global digital commerce, sectors increasingly attracting institutional capital despite broader funding slowdowns across the startup market.