Mobile Lending App Raises $50 Million Funding, Will Expand Operation in India
Kenya based Tala, the leading global technology company committed to financial inclusion, will bring its popular consumer lending app to India.
The expansion was announced along with a new $50 million Series C funding led by Revolution Growth to scale up the success already in progress. Tala has also recently raised an additional $15 million to power its loan book. The round brings Tala’s total financing to more than $105 million.
Founded in 2012 by Shivani Siroya, who grew up in India and the United States has launched Tala in Kenya.
Tala is the first smartphone-based lending app in the world. Through its mobile platform, Tala has delivered more than 6 million loans to nearly 1.3 million customers and originated more than $300 million. The popular app is currently number 3 in the...