Mobile lender Tala gets Sh11bn to boost lending

Mobile lending company Tala on Wednesday announced Sh11 billion investment to support launch of new products and grow its operations across the world.

The additional funding was raised by investment firm RPS Ventures with participation from others such as GGV Capital, PayPal Ventures, IVP, and Revolution Growth.

Tala general manger (East Africa) Ivan Mbowa said the new round of funding will enable online microlender to reach more customers.

“Kenya is at the heart of Tala’s operations around the world. Kenya was our first home, and today it remains our largest office and customer base. We are thankful every day for the loyalty and trust of our 2.5 million Kenyan customers,” Mr Mbowa said.

Tala was launched in 2014 and is currently active in Kenya, Tanzania, India, Mexico and the Philippines.