Santa Monica based smartphone digital lending company for emerging markets has raised $110m in a Series D round led by RPS.
On it’s website, Tala claims that “anyone with an Android smartphone can apply for a loan and receive an instant decision, regardless of their credit history.” Loans range from $10 to $500 dollars. But that loan size, in some cases, turns into notable difference. For example, it helped a father in Kenya pay for his son’s university fees. Or an entrepreneur in the same region start a car washing business.