Tala uses that information to build a customized credit score. Then users can apply for a loan and get an instant decision — more than 85 percent of Tala customers receive credit in less than 10 minutes. Credit is disbursed directly to the customers’ mobile money accounts, and they can repay them in the app. Loans are typically paid back within 30 days, with fees ranging from 11 percent to 15 percent. Revolution Growth led the Series C with participation from existing investors IVP, Data Collective, Lowercase Capital, Ribbit Capital and Female Founders Fund. The round brings Tala’s total funding to more than $105 million.

https://www.bizjournals.com/losangeles/news/2018/04/18/la-fintech-startup-tala-raises-65-million-dollars.html