Los Angeles based micro lender for emerging markets has raised $50m of Series C financing and $15m of debt capital, led by Revolution Growth.
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Ten dollars doesn’t sound like a lot of money in the U.S. You might lend 10 bucks to a friend for lunch and not bat an eye. But it can make a world of difference to small-business owners in markets such as Kenya. Fintech startup Tala launched its mobile lending app in that African country in 2014 and, with expansions to Tanzania, the Philippines and Mexico, has delivered more than 6 million loans to nearly 1.3 million customers totaling $300 million. Now the Silicon Beach company has raised a $50 million Series C plus $15 million in debt financing to expand its platform to India as well.
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