Tala, which is a fin-tech company, has now secured $110 Million in the funding round of Series D led by the RPS Ventures. The funding round was joined by the GGV Capital with the collaboration from the previous investors, which includes the Revolution Growth, Data Collective VC, IVP, PayPal Ventures, and ThomVest Ventures.
The company will now be going to use the new funds to expand in India, support the launch for the new products centered on the financial health, and to even grow its team across the offices which includes its Bangalore engineering hub as well.
The consumer lending app, which is as of now present in some of the emerging markets, secured an additional $100 Million in the debt funding over the past year, which includes $50 Million that was led by the Colchis Capital.
Tala’s app, which is available on the Android smartphone, analyzes the device, and behavioral data to instantly underwrite these consumers and create a personalized loan offer.
“India is one of the most dynamic fintech markets in the world, and we have the product, the team, and now the funding to meet the country’s massive unmet demand for equitable financial services,” Siroya said in a statement.