You’ve probably heard of Tala. The company has raised more than $100 million in debt and Series D, with plans to use crypto as a currency. Its founders, which include a pair of former Google executives, are looking to make it one of the top tech companies in the world. In this article, we’ll take a look at what the company is up to, and where it stands.
About Tala
There is a well oiled machine churning out the goods at the moment. A slew of startups have a vested interest in the nascent fintech market. This ain’t a bad thing in and of itself. Among the aforementioned is Tala. Its latest offering, the Tala Lite, is a nifty little symphony of fintech innovation. Some of its more innovative sibling include the newly launched Tala Financing (TF), a direct lender of high-interest loans. The aforementioned fintech has a nifty fintech hub located in Silicon Valley, where it’s got its hands on the most sexy tech. In addition to TF, the fintech hub is home to startups including nascent fintech horsies like Tala Lite, the fintech heavies like Tala Financing, and the likes.
Raised $100 million debt
If you have been paying attention to the tech world, you have likely heard of Tala. This is a global technology company that specializes in mobile lending and a well honed mobile banking strategy. They have offices in the Philippines, Kenya, and South America. With the recent acquisition of Bank of America’s small business lending division, they are looking to expand their footprint in the US.
The company has a small but dedicated team, a robust set of technologies, and a nifty mobile app that lets customers borrow money and pay it back in a fraction of the time. As of this writing, the company is operating in a dozen countries and employs some 500 people. Interestingly enough, the tech startup has recently received a $40 million dollar loan from Victory Park Capital, a leading global alternative investment firm.
Raised $110 million Series D
Maven Clinic has closed its Series D funding round with a valuation of over $1 billion. The round was led by Dragoneer Investment Group and Lux Capital, and included existing investors. Wale Ayeni and Brian Odhimbo will join the company’s board of directors.
The round also includes IFC and Novastar. In addition, it marks the first close of a $10 million fund from Tofino Capital. This fund will target early-stage startups in emerging markets.
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The startup will use its new funding to expand its product offerings, as well as global operations. Currently, the company operates in Uganda, Kenya, and Nigeria.
Plans to use crypto
A global financial services company called Tala has raised a whopping $145 million in a Series E funding round. Tala plans to use the money to expand its services and make crypto more affordable for users. It currently offers services in Mexico, India, Kenya, and the Philippines. Tala’s founders have stated that the company will develop its first mass market crypto product for emerging markets. The company currently has six million users and has offices in Mexico City, Nairobi, and Bangalore.
Tala’s funding was led by Upstart and included investments from Stellar Development Foundation and J. Safra Group. Previously, the company received $350 million in venture funding. They’ve also disbursed more than 2.7 billion dollars in the countries in which they operate.
Founders
The founders of Tala have been busy since their initial foray into the fintech world. They rounded up a whopping $110 million in Series D funding last year, and $100 million in debt financing. Now, they’re back at it, with an eye toward a mass market crypto product that will make cryptocurrencies affordable to the masses. As the company’s name implies, Tala is also interested in bringing financial services to the underserved. This includes a wide range of technologies, from payments to peer to peer lending. A lot of the company’s focus is on the U.S., but they’ve been scouting the international sphere for promising markets to invest in. In fact, the company recently signed a major deal with PayPal, and plans to expand its footprint into Europe and Asia in the near future.
