Tala Reaches More Than Eight Million Customers Worldwide
Leading money platform processes nearly $200 million transactions monthly for customers across Kenya, India, The Philippines and Mexico.
Santa Monica, CA, July 20, 2023 — Tala, the world’s leading money app for the underbanked, today announced that there are now more than eight million customers* using Tala’s platform across four markets in three continents. In the first six months of this year, Tala gained more than 800,000 new customers, a 114% increase compared to the first half of 2022.
Tala acquires customers efficiently at scale by giving people instant access to cash. Leveraging AI and a customer-centric approach, the platform maintains a highly loyal customer base which drives business growth — the customer repeat rate is 95% and repayment rates are above 90%. Tala’s eight million customers are accessing more than $3 million every day, totaling nearly $100 million in origination per month. The Tala platform bridges digital and cash ecosystems to help customers seamlessly manage their financial lives, processing nearly $200 million transactions monthly.
Digital Financial Services for the Underbanked Billions
More than two billion people around the world are underserved by the formal financial system and operating in a largely cash-based informal economy.
Tala’s global money app was built from the ground up to serve these customers — giving them access to financial tools that help them invest in small businesses, manage household expenses, pay for education, and generally improve their lives.
“Tala was founded on the belief that simple, easy and affordable access to capital can unlock potential,” said Shivani Siroya, founder and CEO of Tala. “Our success and customer growth has proven this out, with more people using our global platform to manage their daily lives and fund new ideas, businesses and innovations – allowing more people to fully participate in the global economy.”
*Customers defined as individuals who have signed up for financial services on the Tala platform
Tala is the world’s leading money app for the underbanked, bridging digital and cash ecosystems in emerging markets to help more people to fully participate in the global economy. Today, Tala processes nearly $200 million in transactions each month for more than eight million customers in Kenya, the Philippines, Mexico, and India who use Tala to grow their businesses and their financial lives.
Tala has raised nearly $500 million in equity and debt from visionary investors, including Upstart, Stellar Enterprise Fund, RPS Ventures, J. Safra Group, IVP, Revolution Growth, Lowercase Capital and PayPal Ventures. Tala has been named to CNBC’s Fortune Impact 20, CNBC’s Disruptor 50 list four years in a row and Forbes’ Fintech 50 list for seven consecutive years.