Tala, a Bengaluru-based fintech firm, has raised $145 million in its Series E funding round led by Upstart with participation from the Stellar Enterprise Foundation.

Existing investors, including IVP, Revolution Growth, and Lowercase Capital, along with new investors, Kindred Ventures and the J Safra Group, also participated in the funding round.

As per the startup, the raised funds will be used to roll out its new mobile-first account services and crypto solutions for emerging markets, including India, and hire across teams and geographies.

With this, the startup will make more affordable and equitable financial tools available to populations that can benefit the most from the crypto economy.

Tala | Mobile App Revolutionizing Financial Services Globally

Backed by leading venture and impact investors, including RPS Ventures, GGV Capital, IVP, Lowercase Capital, and PayPal Ventures, the fintech startup has delivered more than $2.7 billion in credit to more than 6 million customers across Kenya, the Philippines, Mexico and India.

As part of this funding round, Paul Gu (Co-founder and head of product at Upstart) and Denelle Dixon (CEO and executive director of the Stellar Development Foundation) will join Tala’s board of directors.

Speaking on the funding round, Shivani Siroya said,

“Tala has spent the past seven years delivering critical and valued services in markets where the financial system is fundamentally broken for millions of people. This new investment will accelerate our path to becoming the primary financial account for the global underbanked and helping millions more people make progress in their financial lives.”

As per the startup, more than 12,000 new users sign up for Tala services every day. With this latest funding round, the fintech startup has so far raised $350 million.

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