Cryptocurrencies have managed to become the biggest financial market in the current day, and it is all thanks to its incredible versatility. Whether the companies making use of them are cinemas or even ecommerce companies, they have all been able to take advantage of cryptocurrencies. The wide range of companies is a testament to the incredible versatility of cryptocurrencies.
And with so many customers looking to use cryptocurrencies, there has been an incredible rise in crypto based companies. Each of these companies have been able to offer incredible incentives to their customers, and the most recent crypto firm to solidify itself as a major player in the market is Tala.
The California based crypto firm recently managed to raise about $145 million through a round of Series E funding. Given that it was competing for investor attention in one of the hardest competing markets around, them being able to gather that much is quite an achievement.
The recent rounds of funding have been a great success for Tala, as they have managed to bring their total funding for their new projects to $350 million. Some of the major investors in these funding rounds include Revolution Growth, GV, Paypal ventures, and various others. These three big names managing to invest in Tala, shows people hope for the company’s future projects.
The CEO of Tala spoke to a variety of news outlets about how they intend to use the money that they have accumulated through these rounds of funding. They are saying that these funds will directly help them expand their services into a variety of underdeveloped countries. Countries like Kenya, INdia, Mexico, and the Philippines will be able to take advantage of Tala’s money management, Savings, and borrowing features. They will also allow users in these countries to make use of their many crypto offerings as well.
The founder and CEO also offered their insight into why they had decided to expand their services. They said that the pandemic was a major wakeup call for them, as they had to finally realize that they should be offering crypto options as well. They also said that the pandemic showed them the importance of having more than just credit products as part of their services.
As of now, Tala will be focusing exclusively on underbanked customers in various underdeveloped countries. They have managed to lend over a billion dollars to millions of their clients around the world. And if they can continue at their current pace, they will be able to easily offer their services to even more countries around the world. Furthermore, with the deals that they have made with Visa and Circle, they are set to become one of the most influential fintech company in the region.