Digital Lender, Tala has raised KSh16.1 billion in its series E funding round, bringing its total funding to more than KSh38.8 billion.
Investors who took part in the funding round includeUpstart,Stellar Development Foundation,Kindred Ventures, the J. Safra Group,IVP, Revolution Growth, Lowercase Capital, and PayPal Ventures.
The digital lender says it will use the funding to grow its team across Kenya, the Philippines, Mexico, India and the United States, and pull forward plans for both geographic and product expansion, including crypto offerings.
The investment will also accelerate the rollout of its new financial account experience, which provides customers with fresh tools to borrow, save and manage their money through its consumer application.
As part of this latest round, Paul Gu, co-founder of Upstart and Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, have joined Tala’s board of directors.