Tala, a fintech without a bank account, will raise $ 145 million for global cryptocurrencies

TALA Founder and CEO Shiverney Shiroya


Fintech start-up Tala raised $ 145 million in a Series E funding round Thursday for borrowing, savings and cash management, including cryptocurrency offerings across Kenya, the Philippines, Mexico, India and the United States. He said he plans to expand the options. ..

Tala is a two-time CNBC Disruptor 50 company, ranked 20th on this year’s list, and has raised over $ 350 million in venture funding from investors such as PayPal Ventures, GV and Revolution Growth.

The Santa Monica-based company says it can approve loans and distribute money through mobile payment platforms within minutes. Founder and CEO Shivani Siroya says it has lent more than $ 1 billion to more than 4 million customers. A one-time fee of at least 5% is charged for each loan, and according to the company, over 90% of customers will repay the loan within 20-30 days. Most are regular customers.

“From the beginning, Shiroya has been very deliberately focused on building a global platform that is truly scalable across these regions, but also has the ability to localize,” on CNBC’s “TechCheck” live stream Thursday morning. I did. ” Shiroya started cod in 2011 after a stint-spreading investment banking career in the United Nations and other organizations focused on global health.

“During the pandemic, we recognized the need for more than credit and rolled out products that went beyond credit, which highlighted the account experience we were excited to accelerate.”

In May, the company announced a partnership with Visa to build a platform that allows users to buy cryptocurrencies starting with USDC, a digital currency fixed to the US dollar. This will allow Tala users to send money across borders using cryptocurrencies, giving them greater access to the global financial system.

Earlier this year, El Salvador was the first to adopt Bitcoin as fiat currency after members of the Central American parliament voted by a “super-majority” in favor of Bitcoin law and received 62 of 84 Congressional votes. It became a country.

“There are many leaks around the financial system, especially for poorly serviced people. They have to spend a lot of time going to physical places, spending money on transportation, and in fact There is an additional charge to get the money and use it, “Shiroya said. “So we are really looking to make sure they have a secure place to spend their money more efficiently, and that’s what we think about crypto: we really support How can this technology be used to ensure that you are doing the essential movement of money. “

Tala, a fintech without a bank account, will raise $ 145 million for global cryptocurrencies

Source link Tala, a fintech without a bank account, will raise $ 145 million for global cryptocurrencies

Back to top button