Tanzania, May 29 -- Dar es Salaam. Fintech NALA, founded by Tanzanian entrepreneur Benjamin Fernandes, has secured $50 million in credit financing to expand its global reach.

The financing is from Liquidity and MUFG-backed Mars Growth Capital.

The facility starts with a $25 million tranche, with an option to scale to $50 million, to support global expansion, product development and cross-border payments infrastructure.

NALA's founder and CEO, Benjamin, said the funding will strengthen liquidity for real-time payments and expand its corridors across Africa and Asia, while it continues to hold more than 50% of its 2024 $40 million equity round, avoiding dilution.

NALA added that it remains in a strong capital position, still holding mor...