Microloan startup Tala gets Sh11.3bn to accelerate lending

IMG 20190718 WA0010 e1563453792223 - Microloan startup Tala gets Sh11.3bn to accelerate lending
The American startup says the funds will go into supporting the launch of new products in the Tala ecosystem that promote financial health and create value for its loyal customer base. /MOSES MUOKI.

NAIROBI, Kenya, Aug 22- Mobile money lender Tala has received Sh11.3 billion in investment, which it will use to accelerate financial inclusion around the world.

In a statement, the American startup says the funds will go into supporting the launch of new products in the Tala ecosystem that promote financial health and create value for its loyal customer base.

The new funding was raised by a collection of companies including RPS Ventures which is leading the round.

Others include ThomVest Ventures, Revolution growth and PayPal Ventures.

Tala General Manager (East Africa) Ivan Mbowa said that the new round will enable Tala to reach more customers in Kenya and globally with services that put them in control of their financial lives.

Kenya remains Tala’s biggest market and has over 2.5 million customers. The company also has operations in Tanzania, Mexico and Philippines.

“Kenya is at the heart of Tala’s operations around the world. Kenya was our first home, and today it remains our largest office and customer base. We look forward to using this funding to deepen our connection with customers by introducing new tools to help them reach their full potential.”

Over the past year, Tala has raised an additional Sh10.3 billion in debt financing, including Sh5.1 billion led by Colchis Capital specifically for Tala’s Kenya portfolio.

Author: worldwidenewscast

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