Tala is a microloan provider in emerging markets. The company provides loans ranging from $10 to $500 through an android smartphone app in Kenya, Tanzania, Philippines, Mexico and India. Tala aims to allow users to apply and receive a loan instantly, regardless of their credit history, and receive the money through a mobile money account or other cash out options. Tala primarily provides loans to people with limited or no financial records, and as a result, uses android device data and behavioral data to determine credit worthiness.
Tala was founded by Shivani Siroya in Santa Monica, California in 2011. The company is backed by PayPal Ventures, RPS Ventures and IVP.
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