Recently, the aspiring American fintech company Tala raised cryptocurrency company $ 145 million to improve its cryptocurrency products.

Cryptocurrency company Tala is raising $ 145 million to expand crypto services

Tala cryptocurrency platform is popular for offering loans to consumers and small business owners between $ 10 and $ 500.

The emerging fintech company has raised $ 145 million in Series E funding led by Upstart, a company founded by former Google employees Dave Girouard, Anna Counselman and Paul Gu. The Stellar Development Fund Enterprise Fund, together with the new investors Kindred Ventures and the J. Safra Group, also participated in the financing round.

Until now, California-based crypto company Tala has raised over $ 350 million in various funding rounds.

About Tala Cryptocurrency Company

Popular credit services cryptocurrency platform Tala plans to use funds to expand credit, savings and money management opportunities to emerging markets such as the Philippines, Mexico, India and Kenya. Tala is also reportedly considering offering crypto services, according to a report by CNBC.

Tala’s founder and CEO, Shivani Siroya, says the COVID-19 pandemic is a wake-up call for the company to add more services than the traditional ones.

The company is more focused on low bankers. Siroya says the company has loaned more than $ 1 billion to millions of customers, arguing that digital assets have the potential to improve financial transactions.

The new products will help customers “make better use of, save, protect and increase their money,” she said.

Other plans by the crypto company Tala

The company is nearing its goal of creating the first mass-market cryptocurrency product for emerging markets and making cryptocurrencies affordable for users. Tala then plans to use blockchain-based financing to refine its capital markets strategy and connect investors and borrowers on the Tala platform.

Upstart and the Stellar Development Foundation (SDF), the two investors in this round, are critical to Tala’s next phase of growth. As an AI lending platform, Upstart has helped banks and credit unions raise more than $ 13 billion in loans. At the same time, the SDF – the non-profit arm of the Stellar network – promotes interoperability with existing financial systems around the world.

“We are really about both. One is to keep improving our credit services and making them even better, ”said Siroya. “And then the other side thinks about how we can accelerate this experience and use crypto with these platforms.”

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