Tala Marks a Decade of Serving the Global Majority, Surpassing 10 Million Customers Worldwide
With nearly $6 billion in credit provided to date, Tala is unleashing economic power on a global scale.
Santa Monica, CA (November 14, 2024) – Tala, the world’s first financial platform for the global majority, today announced a significant milestone by reaching 10 million customers across East Africa, Latin America and Southeast Asia. This achievement coincides with the company celebrating its ten-year anniversary.
Tala was founded to provide financial services to the global majority, a population traditional systems could not serve due to a lack of credit scores. By leveraging novel data to proxy economic activity, the company achieved impressive 90% repayment and 95% repeat rates for its flagship instant credit product. With nearly $6 billion in credit disbursed worldwide since the company’s inception, Tala is poised to continue its trajectory of serving the world’s underbanked.
“Reaching ten million customers is a testament to Tala’s unwavering mission and founding value of radical trust. I’m deeply grateful to the ten million customers for placing their trust in us, to our dedicated team for relentlessly working to unlock financial access and agency, and for the tens of millions more we hope to have the privilege of serving. Together, we are reimagining the financial system and demonstrating that a more equitable future is possible for all,” remarked Shivani Siroya, founder and CEO of Tala.
2024 was a also a momentous year for the company with new executive hires, product launches and business updates, including:
- Last week, Tala announced the appointment of Michael Olson as Chief Operations Officer; the Tala executive team is 80% women
- In October, Tala launched its first self-custody crypto wallet in Latin America
- In September, Tala partnered with the Atlantic Council to support a publication of an in-depth report on the global majority
- In July, Tala announced the appointment of Damier Xandrine as Chief Legal Officer
- In May, Tala was named to CNBC’s Disruptor 50 for the fifth consecutive year
- In April, Tala established a $48.5 million loan channeling partnership (LCP) with Maya Bank to increase Filipinos’ access to financial services
- In February, Tala was named to Forbes Fintech 50 for the eighth consecutive year
About Tala
Tala is the world’s largest financial platform for the global majority, providing credit and other financial services to underbanked communities in emerging markets. With nearly $6 billion in credit disbursed and 10 million customers across East Africa, Latin America and Southeast Asia, Tala is providing underserved populations with access to credit and financial tools that enable them to build a better future. The company’s innovative approach combines mobile technology, data science, and a deep understanding of customers to deliver tailored financial solutions.
