Nala has secured new financing.
The company based in the U.S. has officially secured more capital commitment in the range of $25M – $50M. This is through a credit agreement with Liquidity and Mars Growth Capital, and focuses on scaling the Rafiki API product for its global stablecoin payouts and infrastructure.
It appears Nala may be entitled to more financing if it is required. Earlier this year, Nala had also partnered with industry participants Noah and MoneyGram working on improving different parts of the stablecoin stack.
Originally focusing on sending money in and out of Africa, the team is now expanding to including more local currency stablecoins and exploring the U.S., Euro and Asian markets for businesses and consumers.
