US fintech player Tala targets India with $110m Series D

PayPal has backed at least two other Indian fintech concerns in recent months, including payment services providers Pine Labs and Chargebee. It extends an influx of foreign corporate participation in the local fintech space. Tala is expected to use the fresh capital in part to hire new staff at its Bengaluru office. 

The round was led by US-based RPS Ventures and included additional support from GGV Capital, Institutional Venture Partners, Revolution Growth, Lowercase Capital, Thomvest Ventures, and Data Collective VC. Previous investors include Ribbit Capital, Female Founders Fund, and GV, formerly known as Google Ventures.

Tala provides a smartphone app that allows users to access lending, credit scoring and other personalized financial services, with a focus on emerging markets. The business has tripled in size during the past year to encompass four million customers and more than $1 billion worth of lending transactions, according to a statement.

The company prioritizes widespread penetration, positioning itself as the “most accessible” consumer credit product of its kind. Operations extend across Asia, the Americas and Africa, with a network of some 40,000 pick-up points where customers can receive and pay back loans. In addition to India, it plans to pursue expansion in the Philippines, Mexico, and Kenya.

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• Topics
• South Asia
• Expansion
• Financials
• India
• USA
• GGV Capital
• Revolution Growth
• Financial Services
• Technology