The upstart tech start-up Tala raises its Series E round of $145 million in funding, according to the Wall Street Journal. According to the article, Tala’s team and technology have caught the attention of investors. In addition, the company is aiming to bring the power of virtual reality to consumers. It’s not difficult to see why.
Tala raises $145 million in Series E funding
Tala is a fintech startup that is helping people manage their money. Based in Santa Monica, California, the company focuses on emerging markets. It offers loans and credit via mobile phones. The firm’s app makes it easy for consumers to apply for credit and receive funding within minutes.
Currently, Tala is available in India, Mexico, Kenya, and Philippines. The company is planning to expand into more regions and to develop crypto products and services.
Tala is a mobile-first consumer finance platform that aims to make financial services more accessible to underbanked populations in emerging markets. It leverages data science to create a credit score. Users can borrow from $10 to $500, and Tala can use a phone’s data to determine the appropriate loan amount.
Tala has recently announced a partnership with Visa to offer users a digital wallet and Visa cards linked to the platform. This will allow them to spend USDC, the stablecoin launched by Circle, wherever Visa is accepted.
Tala’s investors
Tala, a financial technology company, uses advanced data science and mobile devices to create new tools for people to manage their money. Using machine learning, Tala provides consumers and small businesses with credit and other financial services.
Tala’s mission is to make affordable financial tools available to everyone. It focuses on emerging markets. Approximately half the world’s population does not have access to banking services. These populations have been left out of many of the innovations that have been created to improve the financial system.
Tala provides microloans, which are loans between $10 and $500, to underserved populations in developing countries. These loans are offered through a smartphone app. The app analyzes behavior and device data to determine risk.
Finally
Tala provides loans to customers in Mexico, the Philippines, India, and Tanzania. The company also has offices in Bangalore, Mumbai, and Dar Es Salaam. Customers use the loans to pay for school fees, start their own businesses, or invest in a more stable financial future.
