Fintech company Tala procures $ 145 million to expand his cryptocurrency services

Fintech company Tala procures $ 145 million to expand his cryptocurrency services

The California-based company for financial services-Tala-has raised $ 145 million in a financing round of Series E to offer developing countries. This means that the total financing of investors such as PayPal Ventures, GV and Revolution Growth is over $ 350 million.

turn to crypto

according to a CNBC Test report , the financial service provider Tala plans to use the funds to expand its credit, savings and money management options to the following emerging countries: the Philippines, Mexico, India and Kenya. The company intends to offer crypto offers.

Shivani Siroya-founder and CEO of Tala-found that the Covid 19 pandemic was a wake-up call for your company to add other services in addition to the traditional:

"During pandemic, we saw the need for more than just loans and introduced products that go beyond loans, which highlights the account experience that we are now happy to accelerate."

Tala mainly focuses on customers with inadequate bank details. According to Siroya, the company has borrowed millions of customers over $ 1 billion and believes that digital assets have the potential to improve financial transactions:

"So we really want to make sure that you have a safe place where you can use your money more efficiently, and we think about it when it comes to crypto: How can we use this technology to really ensure that we support? The essential money movement."

Shivani Siroya, Twitter

The partnership with Visa

At the beginning of this year, Tala made his first interaction with the cryptocurrency industry of Teams with the multinational financial service company-Visa-and the peer-to-peer payment technology company-Circle. Their goal was to give people with a low bank account the opportunity to buy, sell and store the USDC stable.

According to the conditions of the cooperation, Tala would keep the USDC acquired in his digital wallet, which could later convert users into other cryptocurrencies or Fiats. Visa, on the other hand, gave the customer access to the credit card of the payment provider and thus enabled them to issue the stable coins from all dealers who accept these cards.

Siroya once again praised the potential of blockchain technology, which could solve global problems of financial inclusion:

"Digital currencies have enormous potential to radically open the financial access and give more control directly into the hands of undervalued and underestimated people."

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