Mansa secures USD 10 mn to tackle cross-border liquidity challenges: Dubai-based fintech startup Mansa raised USD 10 mn in a pre-seed and liquidity funding round to scale its stablecoin-based cross-border payments solution and expand in Latin America and Southeast Asia, according to a press release(pdf).

Where is the money coming from? The funding includes USD 3 mn in pre-seed investment led by Tether and Polymorphic Capital, with participation from Octerra Capital, Faculty Group, and Trive Digital. An additional USD 7 mn in liquidity funding came from institutional and corporate investors.

About Mansa: Co-founded by Mouloukou Sanoh (LinkedIn) and Nkiru Uwaje (LinkedIn), Mansa allows payments companies to settle transactions and fund customer accounts instantly. Since its August 2024 launch, Mansa has processed USD 27 mn in transactions, with over USD 18 mn in payments disbursed, and with access to some USD 200 mn in liquidity through its partner network, TechCrunch reports.

OTHER STARTUP NEWS-

The Box secures USD 12.5 mn debt from Shorooq: Dubai-based self-storage firm The Box secured USD 12.5 mn in financing from Shorooq Partners, according to a press release. The funding, provided through Shorooq’s Credit Practice, will support the construction of a new flagship self-storage facility in central Dubai.

The new capital brings The Box’s total debt funding to USD 31.5 mn through various credit facilities since 2014, Forbes Middle East reports.

About The Box: Established in 2006 by Wadih Haddad (LinkedIn), the company has 30 facilities, including a 140k sq ft flagship location. Known for its Grade A certification and sustainable practices, the company is expanding beyond the UAE into Saudi Arabia and Egypt.

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