Fintech Firm Tala Raises $145 Million For Expansion Including Crypto Offerings

Total funding currently stands at more than $350 million, according to Tara.

New Delhi: Financial services firm Tala announced on Friday that it has raised $145 million in E-Series funding led by artificial intelligence platform Starter, with participation from the Star Development Foundation. “Series E” means that a company has gone through many rounds of financing at one point in time.

Existing investors including SafraGroup, IVP, Revolution Growth, Lowercase Capital, and PayPal Ventures are also involved, according to Tara, Kindred Ventures, J. “Currently total funding is over US$350 million,” he added.

The company said it would use the investment to accelerate the diffusion of the new financial account experience and to drive its “geographical and product expansion plans, including the provision of cryptocurrencies.”

The company entered India in 2020 and claims to have more than 500,000 users.

“In addition to payments and savings, Tala’s advanced account expands the range of personalized credit options, including long-term loans and configurable credit based on the customer’s income cycle.”

The financial services company will also use the new funds to “create the first mass-market encryption product for emerging markets, making the most profitable people available to more affordable and fairer financial instruments. In this way, we encourage core ecosystem commitment to digital currencies. From the crypto economy. ”

“This round will facilitate the launch of new services for mobile first accounts and cryptographic solutions for emerging markets including India,” said Tara.

“Upstarts share Tala’s belief that technology is key to accessing and empowering the underserved by serving the next billion people in the financial system. I am pleased. ”

As part of the funding, Gusta von Upstart and Denelle Dixon, CEO and CEO of the Star Development Foundation, have joined Tala’s board of directors.

“This investment in the Stellar Enterprise Fund represents our great belief in Talas’ technology, appeal and leadership. It makes sense to support their growth,” said Dixon…

“Over the past seven years we have provided an important and valuable service in a market where the financial systems of millions of people have been severely disrupted,” said Shivani Siroya, founder and CEO of Tala. requested.