TALA offers the world’s most accessible consumer credit product in India
TALA, building one of the world’s most accessible financial services out of the United States with focus on India, Kenya, the Philippines and Mexico, says it will use the US$145 million raised recently for rolling out new financial account experience, new tools and a mass-market crypto products.
“We’ll use this investment to provide those services and accelerate the rollout of our new financial account experience, which provides fresh new tools to grow, save, and manage your money. We’ll also work to develop one of the first mass-market crypto products for emerging markets to help make crypto solutions more affordable and equitable for those who need them most,” said TALA which has more than six million phone-based app users.
In India, TALA offers the world’s most accessible consumer credit product, instantly underwriting and then disbursing loans to people who have never had a formal credit history, all through a smartphone app. Loans range from Rs 1,000 up to Rs 10,000, TALA said in a release on 14 Oct 2021.
The US$145 million Series E fundraise was led by Upstart with participation from the Stellar Development Foundation. New investors Kindred Ventures and the J. Safra Group also joined, along with existing investors IVP, Revolution Growth, PayPal Ventures, and Lowercase Capital, to bring TALA’s total funding to more than US$350 million.
“After seven years, this still feels like the beginning,” said Tala. #fintech #banking #technology #funds /fiinews.com
