PayPal Invests In Emerging Markets Lending App Tala
Tuesday, October 23, 2018
Tala, the consumer lending app in emerging markets, announced Monday (Oct. 22) a strategic investment from PayPal.
In a press release, Tala said the undisclosed investment from PayPal will help the company bring visibility and access to underserved regions in emerging markets across the world. According to Tala, more than two-thirds of the adult population in the world has no formal credit record, which makes it hard for them to access traditional financial services. It also makes it difficult for the traditional financial services companies to reach these consumers.
Tala’s Android-based app analyzes device and behavioral data to instantly underwrite the consumers and create a loan offer.
Photo courtesy of lirneasia.