Tala
Tala is a financial services company leveraging blockchain and AI to provide credit, payments, savings, and transfers to over 8 million customers across Kenya, Mexico, the Philippines, and India.
Company Overview
Tala is a financial technology company leveraging blockchain-powered infrastructure to provide a range of financial services. With operations spanning Kenya, Mexico, the Philippines, and India, Tala serves over 8 million customers globally. The company's offerings include credit, payments, savings, and transfers, with specialized services such as instant credit, easy money transfers, and expansive bill pay options.
Advanced Technology and Infrastructure
Tala utilizes advanced AI and machine learning to deliver personalized financial experiences to its customers. Their mobile app bridges digital and cash ecosystems, offering a secure digital wallet for seamless transfers, bill payments, and safe cash storage. The company also uses mobile data as a credit score to reach the global unbanked, enhancing financial inclusion.
Funding and Investments
Since its inception, Tala has raised substantial funding to expand its services and reach. Notable funding milestones include $145 million in Series E funding, $40 million in debt financing from Victory Park Capital, and a $110 million investment to enter the Indian market. Additionally, investments from prominent companies like PayPal and strategic partnerships with Visa highlight Tala’s strong financial backing and market presence.
Global Partnerships and Expansion
Tala has partnered with Visa to develop a cryptocurrency solution for the global underbanked and drive crypto adoption in emerging markets. The company's innovative approach and strategic collaborations facilitate its expansion and enhance its service offerings. Tala has also raised $65 million to expand operations in Mexico and India, further extending its global footprint.
Recognition and Impact
Tala has been recognized for its impact and innovation in the fintech industry. The company was featured on Fortune’s Impact 20 list in 2020, CNBC’s Disruptor 50 list for five consecutive years, and Forbes’ Fintech 50 list. Additionally, Tala's services have positively impacted customers' lives, with 63% accessing digital loans for the first time and 80% of women surveyed reporting increased confidence due to Tala.