Tala, one of Kenya’s leading mobile lending apps has announced that it has acquired Sh6.5 billion in its Series C funding.
The funds will be used in product development, increasing human capacity in Kenya, and to expand to India and Mexico. Tala currently operates in the Phillippines, Kenya, and Tanzania.
In Kenya, Tala says it has offered more than 5.6 million loans to over 1 million people with an origination value of Sh28 billion.
The Series C investment was led by Revolution Growth. Other participants include current investors IVP, Female Founders Fund, Ribbit Capital, Data Collective, and Lowercase Capital. This investment brings Tala’s total fundraising to over Sh10 billion.
Steve Murray, Managing Partner at Revolution Growth Steve Murray will be joining Tala’s board of directors.
Related; Mobile Based lender Branch International Raises Sh7bn to Boost Expansion Plans
