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.
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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.
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