Tether Leads $10M Seed Round for Stablecoin Liquidity Provider Mansa
As stablecoins gain traction in cross-border payments and instant settlements, fintech startups are developing liquidity solutions to address existing inefficiencies. One such company is Mansa, a Dubai-based startup that provides a revolving line of credit in stablecoins, enabling payment firms—primarily in Africa—to settle transactions and fund customer accounts instantly. The company has secured a $10 million seed funding round, consisting of both equity and debt, with Tether leading the $3 million equity investment.
Elena Whitmore 
The remaining $7 million was raised as liquidity from various institutional sources. The investment will support Mansa's expansion into Latin America and Southeast Asia, where cross-border payment inefficiencies persist due to liquidity constraints. The startup claims its model improves cash flow for clients at a lower cost than traditional fiat-based alternatives, positioning itself as a key player in emerging markets.
Founded by Mouloukou Sanoh and Nkiru Uwaje, Mansa is backed by extensive experience in finance, payments, and blockchain technology. Sanoh, an investor in multiple African fintech companies, previously worked at web3 venture capital firm Adaverse, while Uwaje served as an innovation manager at SWIFT and led blockchain strategy for Dell in the U.K. and Ireland.
Cross-border payments remain essential for global trade, yet many payment providers in emerging markets struggle with liquidity shortages, leading to settlement delays and increased operational costs. Remittance fees worldwide average 6.5%, disproportionately impacting developing regions. As cross-border payment flows are projected to reach $290.2 trillion annually by 2030, inefficiencies in the system could result in billions of dollars in losses for businesses.
Mansa aims to mitigate these challenges by offering fast and flexible pre-funding solutions. Unlike traditional lenders, the startup underwrites loans based on real-time transaction data rather than collateral, sourcing liquidity at scale from DeFi platforms, quant funds, family offices, and hedge funds. The company states that its due diligence process is completed within a month, allowing clients to access funds quickly.
Alongside Tether, other equity investors in the round include Faculty Group, Octerra Capital, Polymorphic Capital, and Trive Digital. Sanoh emphasized the importance of on-chain liquidity for blockchain-based payments, stating that Mansa's collaboration with Tether is instrumental in promoting USDT adoption in emerging markets.
Despite USDC's significant growth last year, Mansa remains focused on USDT due to its broad accessibility, usage flexibility, and market dominance. The company also acknowledges the challenges Tether faces in Europe, where regulatory changes under MiCA recently led to Tether and nine other digital assets being delisted from EU-regulated platforms. Still, Tether holds a 70% market share in global stablecoin trading volume.
On the compliance front, Mansa has taken steps to strengthen regulatory oversight, hiring the former head of HSBC North Asia and the former chief legal officer of Franklin Templeton. The fintech states that it is implementing rigorous risk management frameworks, including AML procedures, sanctions screening, KYC/KYB verifications, transaction monitoring, and blockchain analytics tools. Uwaje noted that the company approaches its operations with a fintech-first mindset, ensuring regulatory adherence across all markets.
Since its launch, Mansa has financed over $18 million in payments, securing access to $200 million in liquidity through its partner network. The company reports no defaults to date. Transaction volumes have grown significantly, rising from $1.6 million in August to $11 million in January, with a 37.5% monthly growth rate. Over the past six months, the fintech has processed nearly $31 million in transactions and expects to reach a $1 billion total payment volume (TPV) run rate this year, up from its current $240 million run rate.
The two-year-old company serves B2B payment platforms, virtual card providers, stablecoin infrastructure firms, forex platforms, and remittance companies operating across Africa, Latin America, and Southeast Asia. Clients have reported a 30% increase in transaction volumes and a 10% revenue boost after integrating Mansa's services. Meanwhile, the company's own revenue—generated from transaction fees—has grown 350% over the past six months.
While lending is its starting point, Mansa has broader ambitions. Sanoh stated that the company aims to evolve into a comprehensive payment platform capable of handling payouts and foreign exchange. The goal is to provide an all-in-one solution where clients can finance payments, settle transactions instantly, and access foreign currency seamlessly. The company envisions becoming an on-chain version of Stripe, offering embedded financial services to businesses in emerging markets.
