By Daniel Lanyon on Wednesday 3 March 2021
Mansa, which launched just 12 months ago with an initial €2m seed round is planning international expansion to the UK market.
French alternative lender for the self-employed Mansa has raised €18m.
The deal is made up of €6m in equity capital from Anthemis Group and Founders Future and €12m in debt from a Franco-British fund to finance its loans.
Mansa, which launched just 12 months ago with an initial €2m seed round has 20 employees but plans to double its workforce through this new round of financing and to begin international expansion to the UK market.
It specialises in loans to freelancers and the self-employed, having originated €1.5m in loans in 2020. Mansa aims to finance more than €2m of lending per month with this new round of financing. Its average loan size is c.€3,000.
Ali Rami, CEO of Mansa said: "I belong to a generation that tends more and more towards freelancing. This is an ultra-strategic sector for traditional banks which still have difficulty addressing this population due to the lack of an adapted scoring model. If the year 2020 was marked by the difficulties linked to the health crisis, it also saw a record number of micro-enterprises emerge.”
“Our product responds to an essential need for self-employed workers that was not previously covered by the loan market. Since day one, we have had an international ambition because the breakthrough of freelancing has been confirmed not only in France but also at the European Union level. We will start this year."