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Tala Raises $110 Million Series D Led by RPS Ventures

22/08/2019

Santa Monica, CA August 21, 2019 Tala, the leading financial technology company in emerging markets, announced today a $110M Series D investment led by RPS Ventures to accelerate its vision of financial agency for all. The round was joined by GGV Capital with participation from existing investors including IVP, Revolution Growth, Lowercase Capital, Data Collective VC, ThomVest Ventures, and PayPal. Tala has also raised $100M in debt over the past year, including a $50M facility led by Colchis Capital, to power its loan book.

The new equity round will fuel Tala's expansion in India and other markets, support the launch of new products in the Tala ecosystem, and help Tala grow its world-class team across all its offices in Kenya, Mexico, the Philippines, India, and California.

3 billion adults do not have access to basic financial services, including the ability to borrow, save, or grow their money. Tala is on a mission to build a financial system that works for everyone, beginning with the world's most accessible consumer credit product. In 2014, Tala became the first in the world to offer unsecured loans via smartphone, instantly underwriting customers and disbursing credit entirely through an android app. The company has since loaned more than $1 billion to 4 million customers on 3 continents, with a 90% repayment rate that proves the potential of these previously overlooked consumers. Tala's growth is fueled by a deep commitment to its customers, whose loyalty has helped make Tala the largest non-bank lender in Kenya and the top digital lending app across all its markets.

In the near term, Tala will leverage its proprietary technologies and customer trust to deliver additional products that accelerate financial health for the underserved. Already, in addition to credit, customers can take advantage of free financial coaching and education services, both online and offline. Tala is also piloting a new microinsurance benefit.

Tala has more than 500 employees across offices in Santa Monica, Nairobi, Mexico City, Manila, and Bangalore.
LINK: https://www.ivp.com/news/press-release/tala-raises-110-million-series-...
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