Nala secures up to $50 million credit facility from Liquidity

Nala has secured up to $50 million in credit financing from Liquidity, Disrupt Africa reported on 29 May. The money comes through Mars Growth Capital, a joint venture between Liquidity and MUFG Bank Ltd. The initial facility is $25 million, with an option to scale it to at least $50 million. It is a non-dilutive credit facility rather than an equity round.

What Nala does

Nala is a money transfer app that lets people send payments from Europe, the UK and the US to African countries within seconds. Money can be received in Tanzania, Kenya, Rwanda, Uganda and Ghana. The company launched in the European Union in 2023, which added 19 sending countries.

Growth and the lender

Founder and CEO Benjamin Fernandes said the business at one point more than doubled every two quarters, which outpaced its capacity to pre-fund. He described the lender's approach this way: "Liquidity came in quickly and was highly flexible". Paul Brodie, global head of investments at Liquidity, said his team structured the facility after extensive due diligence. Disrupt Africa notes that Nala raised a $40 million funding round in 2024.

How the money will be used

The funds will go towards working capital for global expansion, product development and pre-funding customer accounts. Nala also plans to build a next-generation neobank powered by its global stablecoin infrastructure.

At a glance

• Company: Nala
• Raised: Up to $50 million
• Round: Non-dilutive credit facility
• Investors: Liquidity, through Mars Growth Capital
• Founder and CEO: Benjamin Fernandes
• Markets: Tanzania, Kenya, Rwanda, Uganda and Ghana, with sending from Europe, the UK and the US
• Key figure: $25 million initial facility