Tala, the world’s first fintech company for the global majority, said it achieved a milestone by reaching 10 million customers across three continents, while providing 40 million loans totaling more than P293 billion or $5 billion so far.
This coincides with the celebration of a decade since Tala operated in its first market in Nairobi, Kenya that set off its journey of serving the world’s underbanked.
The story of Tala started with founder and CEO Shivani Siroya and her vision of providing financially underserved populations with access to financial services through innovative solutions. After launching in Kenya in 2014, the company has grown exponentially over the years, disbursing nearly $6 billion in credit to its customers.
“Financial inclusion is our mission in Tala. Achieving 10 million customers reflects our longstanding commitment of serving the global majority, or those who historically have been excluded from accessing traditional financial services due to lack of credit score or history. We recognize their immense economic potential, and we want to unleash that power through technology, creativity and radical trust,” said Moritz Gastl, general manager of Tala Philippines.
Tala harnessed the power of next-generation technology, pioneering the use of alternative data to bypass the unnecessary requirement of legacy finance and leveraging machine learning to assess creditworthiness of customers.
