Emerging market countries will soon benefit from Tala’s cryptocurrency solutions. This development comes as the California-based financial service provider completed raising US$145 million in a Series E funding round recently.
We think the introduction of Tala’s cryptocurrency solutions is timely and appropriate in emerging nations where virtual currency usage is rapidly rising at this point. Considering Tala’s company objectives, we also believe this United States-based financial service provider will significantly help the various aspects of the emerging countries’ people’s financial lives.
Tala began its operations on October 1, 2014, per the details on Crunchbase.com. It concentrates on serving primarily underbanked customers.
Shivani Siroya is the chief executive officer and founder of Tala. She confirmed that her business establishment had lent more than US$1 billion to millions of clients.
The Series E funding round was an event that brought Tala’s total financing to more than US$350 million from investors such as Revolution Growth, GV, and PayPal Ventures. Tala will reportedly utilize the funds to expand its savings, borrowing, and money management solutions to emerging market territories.
These include Kenya, the Philippines, India, and Mexico, per a CNBC update. Additionally, Tala plans to deliver cryptocurrency offerings to developing nations, according to the report posted online by CryptoPotato, a website delivering the latest Bitcoin and virtual currency news, trading price analysis, and crypto-asset trading and how-to guides for beginner and expert traders.
Siroya backs Tala’s cryptocurrency solutions as she has lauded blockchain technology’s potential, which can resolve international dilemmas of financial inclusion. She remarked that cryptocurrencies like Bitcoin possess the tremendous capability to place more control directly into the underbanked and underestimated people’s hands.
Tala’s chief executive officer also pointed out that virtual assets can radically open financial access. Mindful of cryptocurrencies’ numerous benefits to people, Siroya relayed that this reality has made their group ensure that their clients have a safe medium to utilize their funds more efficiently.
The Tala CEO also cited that their financial service company is looking into employing blockchain technology and cryptocurrencies to truly guarantee that they are supporting money’s essential movement.
We want to congratulate Tala and its chief executive officer, Ms. Shivani Siroya, for successfully raising US$145 million in their bid to expand their crypto-asset services. We feel pleased with this financial services provider’s interest in delivering Tala’s cryptocurrency solutions, especially to emerging market economies.
We agree that cryptocurrencies have the potential to enhance consumers’ financial transactions considerably. Hence, we think Tala is properly responding to contemporary people’s financial needs.
We also think Tala’s cryptocurrency solutions make the company truly relevant and deserving of support from many investors and potential clients.