Tala Raises $145 Million Series E To Expand Account And Crypto Capabilities

tala raises 145 million series e to expand account and crypto capabilities

Sumary of Tala Raises $145 Million Series E To Expand Account And Crypto Capabilities:

  • In 2020, Tala was inching towards expanded offerings—midway through the year it launched a debit card in Mexico—when the coronavirus pandemic laid bare the need for a better digital infrastructure for the world’s underserved banking customers.
  • For Siroya, who is also Tala’s CEO, the moment made clear the need to give her customers “a digital account where they could access their money whenever they needed to.
  • And on Thursday, the company took another, even bigger step towards the robust future Siroya envisions: Tala is announcing that it has raised a $145 million Series E round of funding, an infusion of capital that Siroya will use to grow Tala’s account offerings and crypto capabilities.
  • The round brings Tala’s total funding to $350 million and values the company at $800 million (a figure that is roughly unchanged from its 2019 valuation).
  • It was led by fintech company Upstart with participation from the Stellar Development Foundation, an open-source cryptocurrency platform that aims to speed and streamline financial transactions around the world.
  • And as part of the raise, Paul Gu, Upstart’s cofounder, and Denelle Dixon, the CEO and executive director of the Stellar Development Foundation, have joined Tala’s board of directors.
  • Siroya says she went the operator route with the Series E rather than a traditional venture-led round because of the expertise that Upstart and Stellar stand to lend Tala as the company develops its technologies.
  • ” Stellar CEO Dixon sees Tala’s presence in emerging markets and mission to increase financial inclusion among the world’s poorest populations as consistent with her own goal to shift the world’s financial infrastructures from serving the few to the many.

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