There has been a lot of interest in the upstart tech company, Tala. This is because of the strong technology behind their business model. They have made a lot of progress in the industry, but they have a long way to go. In order to achieve their goals, they will need a lot of support.
Tala is a fintech company founded in 2014, which provides loans for consumers and small businesses. Since its inception, Tala has disbursed over $2.7 billion in credit to over 6 million customers. The company currently serves four markets: India, Kenya, Mexico, and the Philippines.
In its first year, Tala grew to deliver more than $2.5 billion in credit, and its mobile credit product has now scaled to a full-featured mobile banking experience. Its products include short-term loans from $10 to $500, which are available to individuals and small businesses. While the company began by offering loans in four markets, it now plans to serve users in all four countries and expand its product offerings to include a broader range of financial services. To help them do this, Tala has raised more than $350 million in funding. This funding includes Upstart and Kindred Ventures, among other investors.
Tala plans to use its new funds to expand its product portfolio, accelerate the rollout of its new financial account experience, and develop its capital market strategy. Meanwhile, its team will be able to grow in several countries.