Mobile lending firm Tala secures USD65 Million investment to accelerate expansion in Kenya

The firm also intends to launch its operations in India and Mexico.

Tala, which operates in Kenya, Tanzania and the Philippines, secured the Series C investment from Revolution Growth, with existing investors such as IVP, Data Collective, Ribbit Capital, Lowercase Capital and Female Founders Fund also topping up their stake.

Series C funding is a company’s third round of capital injection from outside sources.

"With more than 3 billion underserved consumers globally, Tala’s ultimate aim is to deliver meaningful products and services that build radical trust with our customers and put more people in control of their financial lives,” said Tala’s founding CEO, Shivani Siroya.

Expansion drive

The company operates in Kenya, Tanzania, and the Philippines and intends to expand its operations in India and Mexico.

The lender, which initially started as Mkopo rahisi, has so far disbursed Sh30 billion to 1.3 million small borrowers in Kenya, Tanzania and the Philippines with Kenyan borrowers enjoying the bulk at Sh28 billion.

Tala has more than 215 employees across offices in Santa Monica, Nairobi, Dar Es Salaam, Manila, Mexico City, Mumbai and Bangalore.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Sonko’s reaction as daughter Sandra Mbuvi goes international

Sonko’s reaction as daughter Sandra Mbuvi goes international

Eliud Kipchoge's special Sh20,000 earphones he can't live without

Eliud Kipchoge's special Sh20,000 earphones he can't live without

Abel Mutua's movie makes over Sh4M in 5 days

Abel Mutua's movie makes over Sh4M in 5 days

Vera imports Baby Diapers from US, Help rebuild Boniface Mwangi's house & other stories on #PulseUhondoMtaani

Vera imports Baby Diapers from US, Help rebuild Boniface Mwangi's house & other stories on #PulseUhondoMtaani

Davido and Chioma spotted together for the first time since rumoured breakup

Davido and Chioma spotted together for the first time since rumoured breakup

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

Diana Marua in jubilation as she celebrates new milestone [Photo]

Diana Marua in jubilation as she celebrates new milestone [Photo]

5 things you should never do to please a woman

5 things you should never do to please a woman

Amazing transformation of 21-year-old man bullied for being born different (video)

Amazing transformation of 21-year-old man bullied for being born different (video)