Tala Raises US$145 Million Series E, Plans to Roll Out Crypto Products19 October 2021
Tala, a Californian digital financial services provider in emerging markets, announced that it has secured a US$145 million Series E fundraise 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.
Tala said that it use this investment to provide those services and accelerate the rollout of its new financial account experience.
The company will also work to develop mass-market crypto products for emerging markets to help make crypto solutions more affordable and equitable for those who need them most.
Tala has reportedly has 6 million users and disbursed more than US$2.7 billion across Kenya, the Philippines, Mexico, and India to start and expand small businesses and manage day-to-day needs.
The company is headquartered in Santa Monica with offices in Nairobi, Manila, Mexico City, and Bangalore.
Tala said in a statement,
“At Tala, we’re working to build the world’s most accessible financial services. More than 6 million people have used our app to pursue their financial goals with confidence, all from their phone. Previously overlooked, our customers continue to drive the success and evolution of our product.”
This article first appeared on Fintech News Switzerland.
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