Tala has raised $145 million in its Series E funding round, led by Upstart and Stellar Enterprise Foundation. New investors Kindred Ventures and J Safra Group with existing investors like IVP, Revolution Growth, and Lowercase Capital participated in the round. The company will utilise these funds to launch its new mobile-first account services and crypto solutions for developing markets and hire teams, the company told in a statement.

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“Tala has used these last 7 years giving critical and valued services in markets where the financial system is broken for millions of people. These funds will accelerate our path to become the financial account for the global underfunded and helping millions of people make progress in their financial lives,” said Founder and CEO Shivani Siroya. Since its launch in Kenya in 2014, The firm has given over $2.7 billion credit to over 6 million customers in Kenya, the Philippines, Mexico and India. About 12K new users sign up for Tala services every day, the company told.