This archive report was first published on 24 August 2019.
On August 24, 2019, Tala secured $110 million in series D funding to accelerate financial inclusion in the region.
The funding round was led by RPS Ventures in partnership with GGV Capital, IVP, Revolution Growth, Lowercase Capital, Data Collective VC, ThomVest Ventures, and PayPal Ventures.
Tala General Manager (East Africa) Ivan Mbowa stated that the new investment will enable the company to launch new products in its ecosystem, targeting new customers in Kenya and internationally.
As Tala's largest market, Kenya has 2.5 million customers, where the company first launched in 2014.
Tala aims to promote financial health by allowing customers to borrow, save, and grow their money, leveraging its proprietary technologies and customer trust to deliver additional products.
The company will accelerate financial inclusion through free financial education and community building services, and is piloting a new micro-insurance product in Kenya to create value for its loyal customer base.
