Tala, the most popular mobile microfinance secured a series C investment led by Revolution Growth and existing investors like Rabbit Capital ,Female Founders,IVP,Data Collective and Lowercase Capital an amount totalling kes6.5 billion to be used to better the loan app and expand to new markets .
Tala's Next Target MarketsThe microfinance which is currently operating in Kenya ,Tanzania and Philippines ,is now set to land in Mexico and India under the new funding .
Who's Joining TalaIn March , Anay Shah, a former employee at Remitly joined Tala.Now joining Tala's Board of Directors and Advisors is Steve Murray, managing partner at Revolution Growth .
"We are excited about bow Tala is using mobile devices and data science to unlock this huge unmet opportunity and serve a market that is underserved by traditional financial institutions.Under Shivan's vision and leadership, the economy has grown to become one of the leading mobile-first lenders in emerging markets and is enabling millions of customers with no credit history to start businesses and participate in the global economy "Said MurrayShivan, the founder and CEO Tala said,
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. We are excited to bring our globally proven,customer-driven platform to additional markets where the required is high demand for consumer credit and significant underserved population.We wouldn't ask for a better partner in Revolution,who shares our dedication to bringing investment and opportunity to underserved communities. We are thrilled to welcome Steve Murray to our phenomenal team of investors and advisors as Tala enters this next phase of growth
Who Heads Tala KenyaIn Kenya Tala is led by Rose Muturi who has been instrumental in steering and building the business since last year.
Customers in Kenya average between 18 to 40 years of age and are skewed more towards borrowing for business needs. This year,Tala customers can look forward to continued product improvements, including new terms and features.
Tala Offices WorldwideThe lender has offices in;
- Santa Monica (US),
- Nairobi (Kenya),
- Dar Es Salaam (Tanzania),
- Manila (Philippines ),
- Mexico City (Mexico) ,
- Mumbai (India)
- Bangalore (India).
Tala and Numbers
- Has a total of 215 employees spread across all offices
- In Kenya, loans range between ksh1000 and ksh30000
- In Kenya, Tala disbursed over 5.6million loans to 1 million customers
- 1.3 million people borrowed from Tala loan app globally
- Tala has raised a total of 105million from venture capital and investors since inception.
- In Tanzania , Tala has crossed the 100000 customer mark